Global investment manager VanEck has once again been made to wait longer for the U.S. Securities and Exchange Commission (SEC) to decide on the company’s latest Bitcoin exchange-traded product (ETF) application.
The watchdog refuses to approve a spot Bitcoin ETF in the country, while it has granted a few futures-based ones.
- The SEC announced in a filing, which reads that it will delay its decision on a proposed rule change to list VanEck’s spot Bitcoin ETF till October 11, 2022.
- According to the document, the Commission did not get any comment or feedback on the company’s application since calling for comments on July 13, 2022.
- An excerpt from the notice reads:
“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”
- The latest development comes after VanEck decided to file for another Bitcoin ETF on June 24, after the SEC rejected the company’s proposal in November 2021.
- While the American regulator is yet to give the green light for a spot Bitcoin ETF, the SEC has approved several futures-backed BTC ETF requests from companies like VanEck, ProShares, and Valkyrie.