SEC delays VanEck’s bid to launch a Bitcoin ETF until June 2021

The U.S. Securities and Exchange Commission (SEC) extended the review period for VanEck’s proposal to launch a Bitcoin ETF until June 17, 2021.

On March 18, the SEC began the review of VanEck’s proposal. Forty-five days were allocated for this — until May 3. By law the regulator may extend this period to 240 days.

If approved, VanEck would launch the first Bitcoin ETF on US soil. The SEC is also considering applications from WisdomTree and Kryptoin.

In addition, applications for an exchange-traded fund based on digital gold were filed by NYDIG, Bitwise, Valkyrie Digital Assets, SkyBridge Capital with First Trust Advisors, Fidelity Investments and Galaxy Digital.

In February, Canada registered the first Bitcoin ETF in North America managed by Purpose Investments.

In March, Canadian regulators approved the launch of a Bitcoin ETF from CI Global Asset Management and Galaxy Digital’s Mike Novogratz.

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

Earlier, Brazil registered the first Bitcoin-based exchange-traded fund in Latin America.

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