The U.S. Securities and Exchange Commission has put off making a decision on the approval of five bitcoin-related exchange-traded funds until September. The SEC representatives said that they received only two comments on the proposed ETFs.
While a lot of people in the crypto industry seem excited at the idea of a bitcoin ETF, Atlantis Asset Management chief investment strategist Michael Cohn claimed that any approval would be “insane”, according to CNBC.
In addition, none of the delayed ETF proposals are from VanEck and SolidX, which are currently being discussed in the crypto community. More than 100 comments have been received for that proposal, so a decision may be made even next month.