SEC again delays decision on Grayscale’s Bitcoin ETF

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© Reuters.

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on whether to approve Grayscale’s application for an exchange-traded fund (ETF) (BTC), citing familiar concerns about manipulation, liquidity and transparency.

In a notice published Friday afternoon, the SEC raised concerns about how the digital asset manager intends to convert its Grayscale Bitcoin Trust (GBTC) into a cash ETF. Namely, the regulator was not convinced that Grayscale’s proposal was designed to prevent alleged fraud and manipulation in the Bitcoin market. The SEC invited the public to comment on these issues, giving interested parties 21 days to respond in writing.

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