Institutional investors have been on the long path of listing a crypto ETF in the US, and by the looks of it, the wait may be much longer.SEC Delays ETF Decision AgainThe U.S Securities and Exchange Commission (SEC) has announced that it would be extending its decision on WisdomTree’s proposed Bitcoin exchange-traded fund (ETF) listing.The announcement made on May 26 said that this decision is anchored on a follow-up listing by the Cboe BZX Exchange for the same Bitcoin ETF, which sought to list and trade shares of the WisdomTree Bitcoin Trust.Even though the proposal has received varied comments, the SEC says it needs more time to consider the proposed rule change and the Bitcoin ETF comments. Therefore it would be extending its decision window from May 30 till July 14, 2021.This is not the first Bitcoin ETF that has to wait on a decision. According to an April announcement, the digital assets investment firm also saw its Bitcoin ETF proposal delayed by another 90 days. Just like the WisdomTree decision, the SEC cited rule changes as a reason behind the delay. It has NOW selected June 17, 2021, TO MAKE A FINAL decision.The SEC has seen a flood of Bitcoin ETFs, with most institutional investors seeking approval for a Bitcoin ETF. But unlike its Canadian counterpart, the SEC has remained adamant in its decision to approve any Bitcoin ETF.According to the top regulatory dog, crypto-assets like Bitcoin are susceptible to market manipulation and fraud. Even though a lot has changed in the past few months, with the crypto market surpassing a $2 trillion valuation, the SEC has not approved any of the eight proposals on its table.Canada Leading The Crypto ETF SpaceThe SEC’s continued denial of a Bitcoin ETF is tied to the regulatory uncertainty prevalent in the US crypto space. Even as cryptocurrencies are gaining wide adoption in the American nation, federal agencies have not provided any guidelines on cryptocurrencies.This continued ambivalence has seen the SEC lock horns with blockchain firms it feels do not have the necessary permits to operate in the US market.Making a case about the SEC’s aggressive approach to the nascent industry, embattled digital payment firm Ripple Labs CEO Brad Garlinghouse said this is forcing many crypto startups to friendlier climes.The Ontario Securities Commission has taken an entirely different approach. Starting with the Purpose Bitcoin ETF approval, the security commission has greenlighted over eight crypto ETFs in its region.Not to be outdone, the Brazil Securities and Exchange Commission (CVM) also approved QR Capital’s Bitcoin ETF proposal. According to a March 19 tweet, the fund would trade under the ticker QBTC11Bitcoin/USD BTCUSD38,915.3383$1,373.713.53%Volume 34.31 bChange $1,373.71Open$38,915.3383Circulating 18.73 mMarket Cap 728.73 bJimmy AkiJimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system. When not immersed in the daily events in the crypto scene, he can be found watching legal reruns or trying to beat his Scrabble high score.