Van Eck Bitcoin ETF isn’t ready to start trading just yet and it looks like interested investors will have to wait even longer for the U.S. Securities and Exchange Commission (SEC) to reach a decision.
The SEC is considering a rule change to allow the listing of Van Eck Bitcoin ETF that was proposed by Cboe BZX Exchange. This gave the organization 45 days to make up its mind on the matter.
Those 45 days come to an end on May 3, 2021, but the SEC still isn’t ready to make a decision on the proposed rule change. As such, it’s issuing an extension that gives it another 45 days before it has to approve or deny the requested rule change.
With that additional 45 days, the SEC now has until June 17, 2021, to reach a decision. The current rules only allow for the SEC to delay a decision by up to 90 days. That means there can be no further delay after these 90s days come to a close.
So what does this all mean for Van Eck Bitcoin ETF? That it’s going to have to wait even longer for an answer. It’s possible that one will come before the June 17 deadline, but the SEC could also wait until then to give its answer.
It’s worth pointing out that there is no Bitcoin (CCC:BTC-USD) EFT on the market yet. That means that the SEC’s decision could result in Van Eck Bitcoin ETF becoming the first EFT of its type. It’s also worth pointing out that there are 10 bitcoin ETF applications submitted and the SEC is examining three of them.
Of course, investors that are interested in bitcoin do have other options available to them.
They could invest in the crypto directly, or a stock that is connected to it. Some potential examples worth looking at include Facebook (NASDAQ:FB), Marathon Digital Holdings (NASDAQ:MARA), and Tesla (NASDAQ:TSLA). Take a look at the most recent news on these matters below.
More Bitcoin News
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- Invest in Marathon Digital as an Attractive Entry to Bitcoin
- How Elon Musk Distorts Scrutiny With Bitcoin
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
