The US Securities and Exchange Commission (SEC) has delayed its decision on VanEck's bitcoin-ETF for third time this year. The new deadline is set for November 14. The agency once again said in an extension notice it decided to designate a longer period within which to take action on the proposed rule change so that it has "sufficient time" to consider on the application.
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The SEC's first delay for VanEck's application happened in April this year. Back then the watchdog cited the same reason for the delay. A few months later — in June — the SEC again delayed its approval or disapproval of the ETF.
Earlier this year, VanEck launched the VanEck Vectors Digital Transformation ETF (DAAP), a new fund with exposure to the cryptocurrency-related companies. The ETF tracks the price and yield performance of the MVIS Global Digital Assets Equity Index, which is focused on performance of crypto-related companies.
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