SEC Again Delays Decision on VanEck Bitcoin ETF Proposal, Opens a Public-Comment Period

What happened? On Wednesday, the U.S. Securities and Exchange Commission (SEC) extended the review period for VanEck’s BTC ETF application by another 45 days. The decision came a day before the Jun. 17 deadline. The SEC also issued an order permitting the public to comment on the proposal. Once the order is published in the Federal Register, the comment period will be open for 21 days. Rebuttal comments are permitted within 35 days after publication in the same register. It comes after the SEC delayed its decisions on other BTC ETF applications proposed by firms such as Kryptoin, Valkyrie Digital Assets and Fidelity Investments. Proposals can be delayed in 45-, 45-, 90- and 60-day increments (a total of 240 days) before the SEC must deliver a final decision.