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SEC delays decision on NYDIG Bitcoin ETF by two months

Updated: Aug 23, 2024
Published: Jan 5, 2022
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The SEC has delayed its decision on the NYDIG Bitcoin ETF by two months.

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Another Bitcoin ETF has been delayed

The United States Securities and Exchange Commission (SEC) has delayed its decision on Stone Ridge Holdings Group's NYDIG Bitcoin ETF by two months, according to a statement released on January 4, 2022. This is another bitcoin ETF that the regulator has delayed. The SEC will now make its decision within two months.

Bitcoin ETFs have been postponed several times before and have attracted much attention. Although The SEC eventually rejected some of them. The delays were put up with the SEC to get public comment on the investment vehicle. The SEC has cited investor protection as one of the main reasons for these delays. US Congress Chairman Gary Gensler has said that the crypto market needs more investor protection.

SEC wants to make regulatory decisions first

The SEC has been vocal in its support for regulation and better investor protection measures before allowing an ETF. It recently rejected bitcoin spot ETFs Valkyrie and Kryptoin, continuing to reject spot ETFs. However, futures-based bitcoin ETFs have been approved, and Gensler has tended to accept them.

SEC wants to make regulatory decisions first, although it is unclear exactly when the US will publish a comprehensive regulatory framework. In this regard, 2022 appears to be an essential year to remove the uncertainty surrounding ETFs that the industry has already experienced since 2013.

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