Bitcoin was trading lower by more than 6% on Thursday morning.
The price was around $32,920 per coin, while rivals Ethereum and Dogecoin were trading around $2,200 and 21 cents per coin, respectively, according to Coindesk.
The Securities and Exchange Commission wants more time to review SkyBridge Capital’s application for a bitcoin exchange-traded fund, according to a filing by the U.S. regulatory agency and reported by Coindesk.
The SEC has extended the initial 45-day review period to Aug. 25. Anthony Scarammuci’s SkyBridge Capital submitted an application on May 6 to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust.
U.S. regulators have been extremely careful about about approving such investment vehicles. An approval would provide retail investors with access to the bitcoin market without having to own bitcoin itself.
In other cryptocurrency news, over $1 billion worth of cryptocurrency has been spent by consumers globally in the past six months using crypto-linked Visa cards, according to a blog post by the credit and debit card company.
Visa chief financial officer Vasant Prabhu told FOX Business that cryptocurrency spending on everyday purchases has grown “very fast” after accounting for “almost nothing”