SEC Delays Decision on Three More Bitcoin ETF Applications
The SEC has recently announced that it would delay its decision on several applications from major companies, including BlackRock, Invesco, Bitwise, and Valkyrie, for a spot Bitcoin ETF.
Originally expected to receive a response by October 16-19, these companies will now have to wait until mid-January 2024.
According to analyst James Seyffarth, even bids from Fidelity, VanEck, and WisdomTree are expected to be postponed.
This delay is thought to be due to the potential “shutdown” of the US government, which could occur on October 1, disrupting the work of financial regulators and other federal agencies.
Some experts also speculate that the SEC may be going directly to exchange-traded fund issuers, which has never happened before.
Bloomberg expert Eric Balchunas has previously estimated a 75% chance of a spot Bitcoin ETF being approved by the end of 2023 and a 95% chance of approval by the end of 2024.
