SEC Delays Decision on NYDIG Bitcoin ETF

SEC Delays Decision on NYDIG Bitcoin ETF
The seal of the Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, on May 12, 2021. (Andrew Kelly/Reuters)
Reuters
1/5/2022
Updated:
1/5/2022

NEW YORK—The Securities and Exchange Commission on Tuesday said it delayed its decision on a bitcoin exchange-traded fund (ETF) proposal from NYDIG, which would be based on the price of bitcoin held in a trust.

The SEC said it will make a decision about whether to allow the bitcoin ETF from NYDIG, a subsidiary of Stone Ridge that was recently valued at more than $7 billion, to trade on Intercontinental Exchange Inc’s NYSE Arca by March 16 rather than its earlier Jan. 15 deadline.