THELOGICALINDIAN - Another exchangetraded armamentarium is adverse added delays from the balance regulator
The U.S. Securities and Exchange Commission (SEC) has delayed its accommodation to accept a Bitcoin atom ETF put advanced by NYDIG.
Decision Delayed Until March
NYDIG filed its angle for a Bitcoin atom ETF on June 30, 2024. The advance agent would clue the amount of BTC captivated in a trust.
The SEC was accepted to accomplish a accommodation on whether to accept the angle by Jan. 15, 2022. Now, the SEC says that it will adjudge on the amount by March 16, 2022, rather than by that beforehand date.
The SEC has ahead delayed decisions on agnate Bitcoin ETFs. Decisions apropos Bitwise, Grayscale, and WisdomTree were all adjourned in December. The regulator additionally alone VanEck’s Bitcoin atom ETF angle absolute on Nov. 13.
NYDIG Is One of Many ETF Contenders
NYDIG is a agenda asset-focused accessory of Stone Ridge Asset Management admired at $7 billion, authoritative it a ample aggregation and a above adversary in the chase for the aboriginal Bitcoin atom ETF.
Several Bitcoin futures ETFs, which clue the amount of Bitcoin futures, accept been accustomed and launched over the accomplished year. Those articles came from Valkyrie, ProShares, and VanEck.
A Bitcoin atom ETF would be considerably different, as it would be anon angry to the bazaar amount of Bitcoin itself. No such ETF has been launched in the United States to date, and a U.S.-based Bitcoin atom ETF would be a above anniversary for the crypto industry.
Some experts adumbrate that a Bitcoin atom ETF will barrage afore the end of 2022, admitting accomplished delays advance the delay may be longer.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and added cryptocurrencies.
