SEC again delays decision on Grayscale’s bitcoin ETF conversion proposal


The Securities and Exchange Commission (SEC) said Friday that it would again delay a determination on Grayscale’s proposed bitcoin exchange-traded fund (ETF).

Track live crypto price of 10000+ coins!

As previously reported, Grayscale is seeking to convert its Grayscale Bitcoin Trust (GBTC) into a full-fledged ETF. The SEC previously delayed a decision on the matter in December. 

Bloomberg Intelligence’s James Seyffart noted in a tweet that Friday’s punt means that a final decision on Grayscale’s push will come in early July. 

As has been seen in past instances — with the SEC ultimately rejecting efforts to create spot bitcoin ETFs — the SEC is seeking a fresh round of comments on the matter.

Related:  Bitcoin Miner Bitfarms Lowers Hashrate Outlook to 6 EH/s This Year

Last year, the SEC cleared the way for the first bitcoin futures-linked ETFs. 

Trending Stories

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link