The US Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s spot Bitcoin ETF proposal.
According to the published order, the SEC has delayed its decision on whether to approve VanEck’s spot Bitcoin ETF until October 11. The deadline before that was August 27.
SEC Delays ETF Decision
The US Securities and Exchange Commission postponed its decision on VanEck’s application filed on June 24 to October 11.
Although VanEck applied for a spot Bitcoin ETF last year, that offer was rejected in November. The SEC has so far rejected all spot Bitcoin ETF offers. The regulator cites its concerns as investor protection and market manipulation as the reason.
Grayscale was also among the companies whose spot Bitcoin ETF proposals were previously rejected. On June 29, the SEC rejected Grayscale’s application, and Grayscale filed a lawsuit to appeal the decision.
Although the SEC rejected spot Bitcoin ETF offers, it had previously approved the listing of several Bitcoin ETFs linked to futures.
In June, Jacobi Asset Management’s spot Bitcoin ETF became the first spot Bitcoin ETF product approved in Europe.
