SEC Postpones its Decision on Sevetal Bitcoin ETFs

The SEC has pushed back its ruling on multiple Bitcoin spot ETF proposals from ARK Invest and 21Shares to January 10, 2024.

According to the regulator, it believes it is necessary to extend the time frame for approving or denying applications in order to thoroughly review the submitted materials.

Additionally, the SEC has postponed its decision on the exchange-traded fund from the Global X Bitcoin Trust until November 21, 2023.

On July 14, the SEC accepted applications from financial giants such as BlackRock, VanEck, Fidelity Investments, Invesco, and WisdomTree for consideration.

Franklin Templeton later joined the list of applicants. The SEC has not yet approved any spot ETFs for Bitcoin, despite granting exceptions for similar products based on futures contracts for the first cryptocurrency from ProShares and Valkyrie Investments.