According to reports, on Wednesday, local time, the US Securities and Exchange Commission (SEC) announced that it had postponed its decision on whether to approve the first Bitcoin Exchange Traded Fund (ETF).

According to reports, asset management company VanEck applied for approval of the Bitcoin ETF several years ago, but withdrew its application in September 2019. In December 2020, the company submitted its latest S-1 application.

In mid-March of this year, the SEC confirmed receipt of VanEck's application, and thus opened a 45-day review window.

However, before the 45-day review period is about to end (May 3), that is, on April 28 this year, the SEC issued an order to postpone the decision on whether to approve VanEck’s Bitcoin ETF and extend the 45-day approval period to 90 days , the deadline for approval has been postponed to June 17.

Now, the SEC has once again postponed a decision on the Bitcoin ETF proposed by VanEck, this time to solicit more opinions on whether the product should be allowed to be traded on the open market. Meanwhile, the SEC has set July or even August as the deadline for response.

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