The value of the world's largest crypto token Bitcoin contracted on Tuesday, falling as much as 4% as uncertainty over the Securities and Exchange Commission's (SEC) approval for exchange-traded fund (ETF) continued to grow just days before the companies should submit final S-1 amendments.
Fox Business correspondent Eleanor Terrett previously confirmed earlier reports that the SEC set December 29 as the deadline for submitting revised filings for Bitcoin ETFs that will be considered in the initial round of approvals. "Anyone who is not will not be considered. In addition, the filings cannot mention in-kind creation or they will be rejected," the journalist said. The downbeat mood was seemingly driven by the resignation of Grayscale Investments' Chairman Barry Silbert.
Bitcoin fell 3.98% to trade at $41,785.881 at 12:50 pm ET. Ethereum dipped 2.73% to sell at $2,209 minutes later.
