On October 1, 2021, reports have emerged that the US Securities and Exchange Commission (SEC) has decided to extend the deadline of four Bitcoin exchange-traded funds (ETFs) for 45 days. The decision was made citing the need for extra time to determine whether to accept the 19b-4 applications.
This decision timeline of the four Bitcoin ETFs, including the Global X Bitcoin Trust, has been extended by the Commission. WisdomTree Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, and Kryptoin Bitcoin ETF are the other ETFs that were rescheduled to later dates.
Global X Bitcoin Trust was rescheduled to November 21, Valkyrie XBTO Bitcoin Futures Fund to December 8, WisdomTree Bitcoin Trust to December 11, and Kryptoin Bitcoin ETF to December 24. The SEC outlined in their official statement published today:
“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments.”