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The US Securities and Exchange Commission (SEC) has postponed until February 2022 a decision on applications from Bitwise Asset Management and Grayscale Investments to launch spot Bitcoin ETFs.
Approval or rejection of the application in the first case is expected on February 1, in the second – on February 6.
Bitwise Asset Management sent the documents on October 14 and withdrew its Bitcoin futures offer in November.
Grayscale Investments filed an application for converting a Bitcoin trust into an ETF based on the first cryptocurrency on October 19.
What is Bitcoin ETF?
Recall that in December, the SEC rejected WisdomTree’s application to launch a spot Bitcoin ETF. Earlier, the Commission made a similar decision regarding a similar proposal from VanEck.
At the end of October, the regulator approved applications for the launch of ETFs based on bitcoin futures from VanEck and Valkyrie Investments, as well as ProShares. Grayscale Investments called the SEC’s decisions “arbitrary and unlawful.”
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