SEC Delays Decision on NYDIG’s Spot Bitcoin ETF Proposal
The commission now has until March 16 to approve or disapprove NYDIG’s proposal.
Jan 4, 2022 at 6:58 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/YAUYVJE5MNAAXCCJFKQWYMIPDM.jpg)
Is the SEC's Bitconnect Ponzi Scheme Lawsuit the Last From the ICO Boom Era?
Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.
The U.S. Securities and Exchange Commission (SEC) has extended the time period for ruling on NYDIG’s proposal for a spot bitcoin exchange-traded fund (ETF) by 60 days in order to have “sufficient time to consider the proposed rule change and any comments received.”
- The SEC’s original deadline was Jan. 15, so now it has until March 15 to make a decision.
- In recent months, the SEC has rejected spot bitcoin ETF proposals from a number of investment companies, including VanEck, WisdomTree and Kryptoin.
- It also recently delayed its decisions on spot bitcoin ETFs from Valkryie, Grayscale and Bitwise. Grayscale is owned by Digital Currency Group, which is the parent company of CoinDesk.
- In the past, the SEC has typically postponed its decisions on approving bitcoin ETFs for as long as possible.
- SEC Chair Gary Gensler has indicated multiple times that he prefers to see a bitcoin futures ETF over one that holds bitcoin directly. As of now, three bitcoin futures ETFs have begun trading in the U.S.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/7yvw9zn0iWmHsXAJrGZubEPGp8w=/arc-photo-coindesk/arc2-prod/public/VDM35SWTPZAUFAK7YES7XYT6LA.jpg)
Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EJRBZU6XZ5GAZCOGKM7EVVCFX4.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HWIQRCPMQRF6BLLQPPHZZ7JIVQ.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2ACUZMITE5AVHBOB6H4T2LSZXQ.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PJTR3KRDWJCRVE3QREM6KUOK7A.png)