Market

SEC postpones NYDIG Bitcoin ETF decision to March

The US Securities and Exchange Commission has postponed the approval of the NYDIG Spot Bitcoin ETF.

Delay until March

NYDIG presented a proposal for a spot Bitcoin ETF on June 30, 2021. The investment vehicle tracks the value of the BTC held in the trust.

The SEC is expected to make a decision on the approval by January 15, 2022. But now the regulator says it will postpone it to March 16, 2022.

The SEC previously postponed a decision on similar Bitcoin ETF proposals. Decisions on Bitwise, Grayscale and WisdomTree have all been postponed to December, with regulators also immediately rejecting VanEck’s proposal for a spot Bitcoin ETF on November 13.

NYDIG is the digital asset-focused subsidiary of Stone Ridge Asset Management valued at $ 7 billion, making it a major competitor in the race for the first Bitcoin ETF.

In the past year, several Bitcoin futures ETFs that track the value of Bitcoin futures contracts were approved and launched. These products come from Valkyrie, ProShares and VanEck.

A spot bitcoin ETF would make a significant difference as it would replicate directly with the market value of bitcoin itself. To date, no spot ETF has been launched in the USA and, if approved, would be an important milestone for the crypto industry.

Some experts predict that a spot Bitcoin ETF will hit the market before the end of 2022, although previous rejections suggest the wait could be longer.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

23 minutes ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

2 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

2 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

3 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

4 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

5 hours ago

This website uses cookies.