The SEC’s decision on the NYDIG Bitcoin Spot ETF has been postponed

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The Securities and Exchange Commission (SEC) in the United States has postponed a decision on a Bitcoin spot ETF proposed by NYDIG.

Decision Postponed Until March

Until March, The investment vehicle would be based on the value of BTC in a trust.

By Jan. 15, 2022, the SEC was anticipated to judge whether or not to accept the plan. Instead, the SEC now says it will decide by March 16, 2022, instead of the earlier deadline.

The SEC has previously postponed rulings on Bitcoin ETFs of a similar kind. Bitwise, Grayscale and WisdomTree’s decisions were all postponed in December. On Nov. 13, the SEC flatly rejected VanEck’s request for a Bitcoin spot ETF.

Many ETFs are vying for your attention, and NYDIG is one of them.

NYDIG is a $7 billion digital asset-focused subsidiary of Stone Ridge Asset Management, making it a large corporation and a strong candidate in the race to launch the first Bitcoin spot ETF.

Over the last year, some Bitcoin futures ETFs have been licensed and established, which follow the value of Bitcoin futures. Valkyrie, ProShares, and VanEck all have goods in this category.

A Bitcoin spot ETF, on the other hand, would be quite different since it would be directly linked to the market value of Bitcoin. So far, no such ETF has been created in the United States, and a Bitcoin spot ETF headquartered in the United States would be a significant milestone for the cryptocurrency sector.

Some analysts expect that a Bitcoin spot ETF would be available by the end of 2022, although this might take longer given previous delays.

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