The SEC Delays Decision on Bitcoin ETF Applications
The Securities and Exchange Commission (SEC) has announced that it needs more time to evaluate several spot Bitcoin ETF applications, including those of Wisdom Tree Funds, Invesco, Galaxy Digital, and Valkyrie Funds. The SEC will need until at least October 17th to make a decision on whether to approve or reject the applications.
- The SEC cites the need for a “longer period” to evaluate the Bitcoin ETF applications.
- Market analysts expect the SEC to delay decisions as it considers a recent court ruling.
- Bitcoin’s price has dropped 4.1% as the SEC’s delays continue.
- The SEC has also delayed decisions for other spot Bitcoin ETF applications, including one from ARK Invest.
- There is growing anticipation and momentum for a spot Bitcoin ETF to be approved.
Hot Take: The SEC’s decision to delay the evaluation of Bitcoin ETF applications shows that there is still regulatory uncertainty surrounding cryptocurrency. However, with the recent court ruling and growing support from Wall Street titans, the chances of a spot Bitcoin ETF being approved are increasing. The crypto community will be closely watching for the SEC’s final decision and hoping for a fair and inclusive outcome.
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