The US Treasury Board has again delayed its decision to approve the Bitcoin exchange-traded fund, striking yet another blow to the crypto community who still believe there will be an ETF.
The regulator has said they are delaying their decision until October. The SEC must decide on both applicants, the Bitwise ETF Fund and VanEck SolidX Bitcoin Trust, whose applications have so far been rejected.
For the day, Bitcoin remains depressed after the news. Bitwise did not comment, as did the SEC about their decision.
The SEC has received another 25 requests for approval, which have also been rejected. The commission also rejected Tyler's and Cameron Winklevoss's request for a Bitcoin ETF last year. The commission also expressed the view that lack of investor protectionism is likely to be the main reason and not to allow the Bitcoin ETF any time soon. Concerns about fraud and manipulation of crypto sites are still urgent.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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