SEC Delays Decision on Bitcoin ETF Yet Again
The SEC has recently announced a postponement in its decision-making process regarding several applications for Spot Bitcoin ETFs, such as those submitted by BlackRock, Valkyrie, Fidelity, and others.
This development came after a US court overturned the SEC’s previous rejection of Grayscale’s application earlier this week.
It’s worth noting that the SEC has yet to permit any Spot Bitcoin ETFs to enter the market. According to the filings, the regulatory body intends to extend the review period for these proposals by at least 45 additional days.
The documents state, “The Commission deems it appropriate to allocate a more extensive timeframe for evaluating the proposed rule change in order to thoroughly assess both the proposed alteration and the associated concerns.”
SEC delayed the decision on applications from BlackRock, Fidelity, WisdomTree, Valkyrie, VanEck, Bitwise, and Invesco.
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The recent ruling regarding Grayscale’s application significantly boosted Bitcoin’s value, resulting in a serious surge in the price. Some experts believe that all pending Spot Bitcoin ETF applications will eventually gain approval.
Nevertheless, under the leadership of Gary Gensler, it is expected that the SEC will vigorously deliberate before making any such decisions.
At the time of writing, Bitcoin’s price declined below $26,000 after a 4.6% decline in the past 24 hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
