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).
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.
Last year, the SEC cleared the way for the first bitcoin futures-linked ETFs.
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Author: Michael McSweeney
