The U.S. SEC Delays Decision on Bitcoin ETF Approvals
The U.S. Securities and Exchange Commission (SEC) has announced that it will be delaying its decision on the approval of spot-based Bitcoin exchange-traded funds (ETFs) until October. This decision affects bids from financial firms Invesco, WisdomTree, and Valkyrie, among others. A Bitcoin ETF would allow investors to gain exposure to the cryptocurrency through brokerages, similar to how they invest in precious metals like gold and silver.
Key Points:
- The SEC is pushing back its decision on approving or denying Bitcoin ETFs until October.
- Bloomberg ETF analysts predict a high likelihood of approval for a spot market BTC ETF by the end of 2023 or 2024.
- Former SEC Chairman Jay Clayton believes the approval of BTC ETFs is inevitable.
- Bitcoin’s price is currently at $25,627, experiencing a 2.54% decrease in the last 24 hours.
- Subscribe to receive email alerts and stay updated on the latest news.
Hot Take:
The delay in the SEC’s decision on Bitcoin ETF approvals is not surprising, as industry experts have anticipated it. However, the confidence in eventual approval remains high, with Bloomberg analysts predicting a strong chance of approval in the coming years. Former SEC Chairman Jay Clayton’s statement further supports the belief that Bitcoin ETFs are on the horizon. Despite the delay, the cryptocurrency market continues to fluctuate, with Bitcoin experiencing a recent decrease in price. Stay informed and subscribe to receive email alerts to stay updated on the latest developments.
By
By
By
By
By
By