SEC Delays Decision on VanEck/SolidX Filing in Latest Bitcoin ETF Setback
The U.S. Securities and Exchange Commission (SEC) has again delayed a decision on a bitcoin exchange-traded fund (ETF) proposal.
The VanEck Vectors Bitcoin ETN is now trading on the trading on the Deutsche Boerse Xetra.
Bitcoin’s price volatility spiked in January and could further increase over the near term because “whales” have begun accumulating coins.
So far, the SEC has considered many applications for bitcoin-based ETFs and rejected them all.
VanEck and SolidX just pulled their bitcoin ETF proposal a month before the SEC would have to approve or reject it.
VanEck and SolidX aim to launch a limited bitcoin ETF for institutions in the U.S. later this week, but retail investors will be locked out.