The US Securities and Exchange Commission continues to delay a decision on Bitcoin (BTC) ETFs, issuing two new term announcements.

On Wednesday, the SEC rejected two major Bitcoin exchange proposals, including NYSE Arca’s “real” Bitcoin ETF, called Bitwise Bitcoin ETP Trust, and Bitcoin ETF Trust’s Grayscale Bitcoin.

The SEC now expects to decide on February 1 and 6 whether to approve the Bitwise BTC ETF and Grayscale’s BTC ETF, or “institutional arrangements to determine whether to approve.”

“The Commission considers it appropriate to take a long time to take action on the proposed changes to the rules so that there is sufficient time to consider the proposed changes to the rules and the comments received,” the SEC wrote in two comments. This

As mentioned earlier, Bitwise Asset Management set up a physically supported Bitcoin ETF on October 14 with the intention of providing “Real BTC” instead of derivatives such as Bitcoin futures or other indirect transactions. The company dropped its ETF application based on Bitcoin futures in November as many of these products were launched in the United States.

Grayscale is the world’s largest bitcoin fund with a net worth of $ 45.6 billion. The company applied to convert its flagship Bitcoin product into an ETF on October 19.

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The latest news comes as the SEC maintains its strong position on physical cryptocurrency ETFs and favors a number of ETF industries by indirectly introducing cryptocurrencies, including BTC. ETF futures made by investment firm Prosher. In early December, the SEC rejected the Bitcoin ETF deal from asset manager WisdomTree after postponing its decision in June.

In November, the SEC rejected the physical Bitcoin ETF from VanEck, one of the world’s first companies to establish a Bitcoin ETF. The Chicago Board of Exchange Options Company has yet to choose whether to create a Bitcoin ETF.

Source: CoinTelegraph