Last updated on January 20th, 2022 at 04:21 pm
The United States’ securities regulator, the Securities and Exchange Commission (SEC) has stated that it was postponing its decision on the outcome of the proposal that Grayscale Bitcoin Trust had submitted concerning its spot bitcoin Exchange Traded Fund (ETF). Grayscale Bitcoin Trust is one of the biggest fund managers in the world, and it had submitted a proposal for approval to the authorities.
SEC released a notice stating that it will review the proposal on February 6, which is after the stipulated December deadline.
Different stakeholders had thought that the decisions would be made before the end of 2020. In October, the fund management firm had wanted to turn its Grayscale Bitcoin Trust (GBTC.PK) into a spot bitcoin ETF, but needed permission from the authorities.
The SEC had stated in its notice that it needed more time to analyze the proposal and its effects and come up with a decision, which is in line with its powers.
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