Bitcoin fell around 5% to $6,130 on Tuesday, Aug. 14, following a tumble below $6,000 on Monday. The price Monday was the cryptocurrency's lowest since June.
Other cryptocurrencies also were trading lower. According to Coinbase, ethereum was down 16% on Tuesday, litecoin tumbled 11, and bitcoin cash was down 14%.
The drops came after the Securities and Exchange Commission delayed a ruling on Aug. 8, to approve a bitcoin-related exchange-traded fund. The fund was submitted by VanEck, an investment firm, and SolidX, a financial services company.
The ETF would be backed by bitcoins rather than futures, and would make it easier for investors looking to get into the cryptocurrency space without actually putting money in bitcoin itself.
"The Commission designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change," the SEC said in a statement. However, VanEck and SolidX had originally been hoping for an August decision.