SEC delays decision on NYDIG Bitcoin ETF

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday said it delayed its decision on a bitcoin exchange-traded fund (ETF) proposal from NYDIG, which would be based on the price of bitcoin held in a trust.

The SEC said it will make a decision about whether to allow the bitcoin ETF from NYDIG, a subsidiary of Stone Ridge that was recently valued at more than $7 billion, to trade on Intercontinental Exchange Inc's NYSE Arca by March 16 rather than its earlier Jan. 15 deadline.