Bitcoin ETF decision delayed, SEC commissioner wonders why

The SEC has delayed its decision on a Bitcoin ETF, with some members of the commission hinting that they might not approve it. The biggest question this case raises is why do we need another investment tool?

The “etf crypto meaning” is a decision that has been delayed by the SEC. The commissioner of the SEC, Hester Peirce, has asked why they have not approved the Bitcoin ETF yet.

Bitcoin ETF decision delayed, SEC commissioner wonders why

 

The US Securities and Exchange Commission has postponed its verdict on NYDIG’s spot Bitcoin (BTC) exchange-traded fund (ETF), putting it off until March 16.

The SEC decided it was “appropriate to establish a longer time within which to issue an order approving or rejecting” the ETF in a notice released on Tuesday. BTC’s price did not flinch in response to the news, holding firmly coiled beneath $47,000.

An SEC official has spoken out in favor of a spot ETF, which is an encouraging development. While crypto aficionados are accustomed to delays and denials in BTC spot ETFs, SEC Commissioner Hester Peirce is perplexed as to why it is taking so long.

“I can’t believe we’re still talking about this as if, you know, we’re waiting for one to happen,” the commissioner said in an interview with industry media. Even lately, we’ve issued a series of rejections that continue to rely on rationale that I believe was out of current at the time.”

What’s been keeping a pure-Bitcoin ETF from becoming a reality?

The NYDIG requested an ETF for the first time on Feb. 16 of last year, and the most recent date for approval was Jan. 15. It would have been the first Bitcoin ETF in the United States if it had been authorized. 

BTC may be purchased in the United States via Valkyrie’s newest ETF or the famous ProShares BTC futures contracts fund. Investors, on the other hand, continue to yearn for a method to obtain direct exposure to the asset.

Fidelity Canada introduced a BTC ETF and mutual fund in December, and BTC spot ETFs are available to Brazilian and Latin American investors. It raises the issue of when a spot ETF will arrive on American shores.

According to ETF.com, over 20 BTC-related ETFs are pending approval or rejection in the United States, thus 2022 is undoubtedly the year.

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