The United States Securities and Exchange Commission (SEC) delayed its decision on yet another Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) proposal.
What Happened: According to documents released by the SEC on Tuesday, the regulator decided to postpone its decision on the proposal filed by Texas-based family investment fund Valkyrie Digital Assets to list its Bitcoin ETF on the New York Stock Exchange.
The commission noted that it had received comments on the fund and decided to extend the review period for the ETF by 45 days, rescheduling the decision for Aug. 10.
The SEC also recently decided to delay its decision to approve Van Eck’s Bitcoin ETF, requesting comment from interested parties on how this decision could impact the markets.
The firm’s CEO, Jan Van Eck, urged the regulator to approve it since “the only alternative investors have is a closed-end fund that trades it at a 40% premium or 20% discount,” and investors are eager to invest in Bitcoin.
Price Action: According to CoinMarketCap data, Bitcoin’s price increased by 18.5% from its 24-hour low of $28,993 to $34,357 before settling at $33,055 as of press time.
While up on the day, its price is still nearly 46% down from May’s all-time high of $63,503.
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