SEC pushes deadlines for four Bitcoin ETF applications to end of 2021

The US Securities and Exchange Commission has pushed the deadlines for four Bitcoin ETF applications to the end of 2021.


The SEC again postpones deadlines for Bitcoin ETF applications

The ETF applications, which are now being deferred, are: the Valkyrie XBTO Bitcoin Futures Fund (delayed until December 8), the Kryptocoin Bitcoin ETF (postponed to December 24), the WisdomTree Bitcoin Trust (postponed to December 11) and the Global X Bitcoin Trust (postponed to November 21). These filings are among more than a dozen pending Bitcoin ETF filings with the SEC.

An ETF is a type of security linked to an asset (or baskets thereof), whose shares can be listed and traded on traditional exchanges. In the case of a Bitcoin ETF, the underlying asset is Bitcoin. In this way, Bitcoin ETFs allow institutional investors to gain exposure to the cryptocurrency without actually buying or holding it.

While America’s financial watchdog has been blocking applications for years, Canada already has four…officially approved Bitcoin ETFs.


A Bitcoin ETF in America is getting closer

When it comes to crypto ETFs, the SEC is holding back applications mainly due to the lack of transparency, market manipulation, liquidity issues and the fact that Bitcoin is a new type of asset quite different from anything that came before.

Yet such a Bitcoin ETF seems to be getting closer and closer, says Sui Chung, CEO of CF Benchmarks.

“Unlike a few years ago when most Bitcoin ETF applications came from startups, today’s applicants are much larger and better equipped for such an undertaking. I think many of the SEC’s concerns will be allayed if companies with a lot of experience take care of the ETFs.”

Read Also:  Bitcoin ETFs are having a disappointing day, especially BlackRock

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