The US financial regulator, the United States Securities and Exchange Commission (SEC) has once again decided to postpone its decision on three crypto exchange traded funds (ETFs), Cointelegraph reports on August 13th.
In the case of the most expected ETF, the VanEck one, the SEC will postpone its decision to October 18th, while Bitwise Asset Management and Wilshire Phoenix could have a decision on October 13th and September 29th respectively.
SEC commented “The Commission finds it 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 this proposed rule change.”
The exchange traded funds have been long awaited as a means for the institutional investors to enter the cryptocurrency markets hassle-free. However, SEC has already shown it will proceed with the outmost caution when it comes to approving new financial instruments such as that and an postponement has already been expected for the most part. However, the room for further delays grows short as there and it would appear that we'll see SEC's final decisions on the ETFs come October.