Bitcoin ETF Delayed Again
Washington D.C. — The Securities and Exchange Commission (SEC) has again delayed its decision in approving or denying a Bitcoin ETF. Three companies are in contention to be the first government sanctioned ETF relating to cryptocurrencies. The VanEck ETF proposal can not be delayed any further and has a deadline of October 18th for either approval or denial.
The SEC has given a number of reasons why it has not made a decision including: market manipulation, market surveillance, and volatility when compared to the futures market. Various versions of a Bitcoin ETF have been proposed for years, each time either delayed or pulled by the creating company.