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‘The Cow Guy’ at AG Optimus Scott Shellady provides insight into inflation, supply chain issues, gold and bitcoin.
The race for the first approved bitcoin exchange-traded fund hit a road bump this week, when the Securities and Exchange Commission delayed the review of just one of two ETFs in the approval queue; The VanEck Bitcoin Trust.
Still, the firm is sticking by its view that Main Street investors will benefit from an easier way to invest in cryptocurrency.
"VanEck continues to believe investors will be well served by having a publicly registered Bitcoin product and we’re committed to working with regulators during their period of consideration," said Ed Lopez, Head of ETF Product with VanEck in a statement to FOX Business.
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The SEC, in a filing, explained its decision to delay the review and possible approval.
"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 the comments received," wrote J. Matthew DeLesDernier, Assistant Secretary SEC.
The second, similar bitcoin ETF, WisdomTree's Bitcoin Trust, remains on track the firm confirms to FOX Business.
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Inquiries to the SEC requesting more specifics on the delay were not immediately answered.
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Bitcoin, at the $57,000 Friday, is marching back to record levels.