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.

(Reporting by John McCrank; Editing by Mark Porter)