SEC once again puts off decision on NYDIG Bitcoin spot ETF proposal
The US Securities and Exchange Commission has once again delayed its decision on NYDIG’s proposal to list its spot Bitcoin ETF. This is the final time the SEC can postpone its decision on the proposal before it gets automatically approved for listing on NYSE Arca.
This time, the financial regulator has extended its deadline to March 16, 2022, delaying its decision by 60 days. The deadline was previously set for January 15, 2022. Meanwhile, the SEC will announce its decision on Sky Bridge and Fidelity spot Bitcoin ETFs by the end of this month.
The SEC’s extension order read:
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised in the comments that have been submitted in connection therewith.”
The SEC has been reviewing physical Bitcoin ETFs since March 2021 but has so far ruled out VanEck, WisdomTree, Kryptoin, and Valkyrie applications. Apart from NYDIG, the regulator has delayed decisions on Grayscale and Bitwise spot Bitcoin ETF applications.
On the other hand, it has approved the listing of several Bitcoin futures ETF applications, including those by ProShares, Valkyrie, and VanEck.
NYDIG, or New York Digital Investment Group, is a Bitcoin investment management firm under Stone Ridge Holdings Group. The firm offers multiple Bitcoin-related financial services, including asset management, custody, and execution services.
The post SEC once again puts off decision on NYDIG Bitcoin spot ETF proposal appeared first on Our Bitcoin News.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
