SEC delays decision on approving bitcoin ETF

The Securities and Exchange Commission on Wednesday delayed its decision on approving the VanEck Bitcoin ETF until June as the regulator's new chief begins to review high-profile asset applications.The SEC typically takes 45 days from when an application is filed to render a decision on whether such a security should be allowed to trade. The 45 day window for the VanEck Bitcoin ETF ends on May 3, but the SEC is extending the deadline."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," J. Matthew DeLesDernier, Assistant Secretary at the SEC, said in a filing.While bitcoin ETFs exist in the U.S., they do not directly own bitcoin. They own portfolios of stocks deemed to have exposure to blockchain technology. Some bitcoin watchers…

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