The regulator has 45 days to provide a response. However, the deadline can be extended up to 240 days.
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It must be noted that if these investment products receive the green light from the SEC, SkyBridge Capital's will be launched on Cboe BZX and Fidelity's on the New York Stock Exchange.
Applications to launch Bitcoin ETFs are piling up at the SEC's door, as the regulator must also make a decision on the proposals filed by VanEck, Kryptoin, WisdomTree and Valkyrie Digital Assets.