The Securities and Exchange Commission (SEC) is delaying its decision on VanEck and Cboe's application to list a bitcoin exchange-traded fund. The SEC published an order today extending its 45-day decision window to 90 days.
The SEC has now given itself an additional 45 days to consider the proposal. The order designates June 17, 2021 as the decision deadline, though this window could be extended further to encompass a 240-day decision period.
"Accordingly, pursuant to Section 19(b)(2) of the Act, the Commission designates June 17, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change," said the order.
The securities regulator has extended on other proposals in the past. In the case of VanEck, even if the SEC punts the decision as far down the line as possible, final approval or rejection must come before the end of this year.
Meanwhile, Cboe also filed a 19b-4 for Kryptoin's proposed offering as of April 10, putting the SEC on a decision deadline for this offering as well. Other unattached offerings include Valkyrie, Galaxy Digital, Fidelity, SkyBridge Capital, WisdomTree and NYDIG.