SEC postpones consideration of VanEck’s application to launch bitcoin ETF

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The US Securities and Exchange Commission (SEC) has extended the deadline for considering the application of the investment company VanEck to launch an exchange-traded fund (ETF) based on the first cryptocurrency until June 17, 2021.

On March 18, the SEC began reviewing VanEck’s application. 45 days were allocated for this – until May 3. By law, the regulator can extend this period up to 240 days.

If approved, VanEck will launch the first Bitcoin ETF in the United States. The SEC is also considering WisdomTree and Kryptoin applications.

In addition, NYDIG, Bitwise, Valkyrie Digital Assets, SkyBridge Capital with First Trust Advisors, Fidelity Investments, and Galaxy Digital applied for the launch of an exchange-traded investment fund based on digital gold.

Recall that on February 12, Canada registered the first Bitcoin ETF in North America managed by Purpose Investments.

In March, Canadian regulators approved the launch of an exchange-traded fund based on the first cryptocurrency from Mike Novogratz’s CI Global Asset Management and Galaxy Digital.

On April 19, Canada launched the 3iQ CoinShares Bitcoin ETF.

Brazil previously registered the first Bitcoin exchange-traded fund in Latin America.

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