SEC Delays Decision on Kryptoin's Bitcoin ETF
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June 15, 2021

The US Securities and Exchange Commission (SEC) has delayed its verdict on another Bitcoin exchange-traded fund (ETF).

This time, the regulator has extended the deadline to make a decision on the Bitcoin ETF filed last June 9 by Kryptoin.

The extension is for 45 days, so the SEC now has until July 27 to make a decision on whether or not to approve the launch of the investment product based on the cryptocurrency.

According to the announcement:

"The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received."

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Kryptoin amended its Bitcoin ETF application, which had been unchanged since 2019, in April of this year. The new application named Cboe BZX as its intended exchange, and Cboe filed the required 19b-4 a few weeks later, giving the Commission 45 days to receive comments on it.

This is not the first time the SEC has delayed a decision on a Bitcoin ETF. For instance, last month the regulator put off until July 14 its decision on WisdomTree's Bitcoin ETF.

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