The Securities and Exchange Commission (SEC) has delayed the deadline for a decision on the proposed Valkyrie Bitcoin Fund to January 7, 2022.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised in the comment letters that have been submitted,” the SEC said in a statement.
This is not the first time the Valkyrie Bitcoin Fund has faced a delay in the SEC’s approval period, which was most recently delayed in June of this year.
Financial services firm Valkyrie Funds LLC is at the crux of the United States’ recent pivot to Bitcoin exchange-traded funds (ETFs), having gained approval for its Bitcoin futures ETF—the Valkyrie Bitcoin Strategy ETF—after the ProShares and VanEck futures ETFs first gained approval with the SEC.
The Valkyrie Bitcoin Fund, however, is a Bitcoin spot ETF
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