The SEC has yet again delayed its decision as to the verdict of VanEck's latest spot Bitcoin ETF application by 45 days. The New York-based asset management firm submitted its latest spot Bitcoin ETF application on June 24. The deadline for the regulator’s decision was originally meant to expire on August 27.
The Monetary Authority of Singapore (MAS) is intensifying its surveillance of digital asset firms within the city-state ahead of upcoming regulatory changes. The authoritative body sent a questionnaire to some applicants and holders of its digital payments license seeking highly granular information about their business activity and holdings.
Leading digital asset management firm Grayscale Investments LLC has been on the receiving end of questions posed by the U.S. Securities and Exchange Commission (SEC) over the firm's “securities law analysis” of tokens which appear in some of its lesser known trusts.
Top stories in the Crypto Roundup today:
SEC Delay VanEck's Third Spot Bitcoin ETF Application
Singapore Steps Up Crypto Regulation
Grayscale Discloses SEC Queries Surrounding Three Cryptoassets
SEC Delay VanEck's Third Spot Bitcoin ETF Application
The SEC has yet again delayed its decision as to the verdict of VanEck's latest spot Bitcoin ETF application by 45 days. The New York-based asset management firm submitted its latest spot Bitcoin ETF application on June 24. The deadline for the regulator’s decision was originally meant to expire on August 27.
In a filing made on the 24th of August, the SEC announced that it would be extending the decision surrounding VanEck’s application by an additional 45 days, pushing the expiry date to October 11th, when the regulator would "either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change."
According to the SEC, “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 issues raised therein.”
This is not the first time that the financial regulator has delayed a spot Bitcoin ETF application. Back in November, VanEck’s previous application was denied citing concerns surrounding “fraud and manipulation” of the Bitcoin spot market. As of writing, the SEC has rejected or delayed numerous applications for a spot-based Bitcoin ETF. It has, however, approved several Bitcoin futures ETFs.
VanEck, ProShares and Valkyrie are among some of the companies that have successfully launched a Bitcoin Futures ETF.