SEC delayed decision on Grayscale’s bitcoin ETF launch

The Commission wants to explore the company’s capabilities to crack down on fraudulent activity on the spot market

07.02.2022 - 11:05

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What’s new? The US Securities and Exchange Commission (SEC) has decided not to rule yet on Grayscale Investments’ application to launch a spot bitcoin ETF. This is according to a message published on the agency’s website.

Link to the material on the SEC website

Why did the SEC delay its decision? The Commission stated that it needs time to explore Grayscale Investments’ capability to crack down on fraudulent activity on the spot market. The SEC awaits public comments over the next 21 days.

What had happened before? In early February, it became known that Grayscale Investments is launching its first exchange-traded fund (ETF). The new ETF has already been added to the New York Stock Exchange listing under the ticker GFOF.

GFOF, or “Future of Finance” ETF, includes shares of 22 companies that operate in the field of cryptocurrencies and have added bitcoin and other digital assets to their product lineup.

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