SEC delays decision on NYDIG's bitcoin ETF proposal

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The Securities and Exchange Commission (SEC) has delayed on another spot bitcoin exchange-traded fund (ETF), as an extension notice for NYDIG's Bitcoin ETF hit the register today.

"The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised in the comments that have been submitted in connection therewith," said the order.

The Commission designated an additional 60 days. NYDIG can now expect an answer on its proposal by March 16. NYSE Arca first filed to list the product on June 30, 2021, putting the SEC on the decision clock. This is the latest in a series of extensions from the securities regulator. 

After multiple extensions and taking the full time available, the SEC also recently delivered rejection orders to VanEck, WisdomTree, Kryptoin and Valkyrie's proposed products. 

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May 5, 2022, 3:17PM UTC