The deadline for deciding on VanEck's application for the launch of the bitcoin-ETF exchange-traded crypto fund has been shifted to November 14. The corresponding statement was published in the middle of the week by the press service of the US SEC.
The regulator did not voice any additional messages. However, we note that a decision has not yet been made on one of the first applications to launch an exchange-traded fund focused on the largest digital currency.
Now the SEC is considering more than a dozen such applications from various companies. The American Commission has the right to shift the deadline for making decisions on issuers' requests three times. The final answer will be posted on November 14th.
VanEck management hopes that the SEC will finally decide on the launch of a new product that will be of interest to institutional investors.
At the end of July, analysts from the Coinbase crypto exchange presented a report on the prospects for Bitcoin ETFs in the United States. According to experts, the Securities and Exchange Commission will decide on the approval of the first crypto fund by the end of 2021.
If the regulator takes a positive decision, then the value of bitcoin will grow at a more confident pace, thanks to the inflow of institutional capital.