SEC Delays Decisions on Bitwise and Grayscale Bitcoin ETF Applications

The U.S. Securities and Exchange Commission (SEC) pushed back, to February 2022, its decision on the applications of Bitwise Asset Management and Grayscale Investments for the launch of spot Bitcoin ETFs.

Approval or rejection of the applications in the first case is expected on February 1, and February 6 in the second.

Bitwise Asset Management filed the documents on October 14 and, in November, withdrew its Bitcoin futures-based proposal.

Grayscale Investments filed an application to convert its Bitcoin Trust into an ETF based on the first cryptocurrency on October 19.

In December, the SEC rejected WisdomTree’s bid to launch a spot Bitcoin ETF. Earlier the Commission took a similar decision regarding a related proposal from VanEck.

At the end of October, the regulator approved applications for launching Bitcoin futures ETFs from VanEck and Valkyrie Investments, as well as ProShares. Grayscale Investments described the SEC’s decisions as arbitrary and improper“.

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