United

Bitcoin

James

<p class="is-style-lead">The United States Securities and Exchange Commission (SEC) has postponed its ruling on six spot Bitcoin exchange-traded fund (ETF) applications from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Fidelity, and BlackRock.</p> 
<p>In a <a href="https://www.sec.gov/files/rules/sro/nasdaq/2023/34-98262.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a> on Aug. 31, the regulator said they will be taking another 45 days to consider the proposed rule changes. </p> 
<p>That means they have until October 2023 to approve, deny, or announce a delay of the decision.</p> 
<p>This postponement follows reports suggesting that the SEC might consider applications with surveillance-sharing agreements, prompting several firms to resubmit their applications. </p> 
<p>Additionally, it comes after speculation by Bloomberg analysts Eric Balchunas and James Seyffart that a spot Bitcoin ETF might be approved in the US following this week’s court ruling favoring Grayscale’s appeal.</p> 
<p> You might also like: <a href="https://crypto.news/analysts-chance-of-sec-approving-spot-bitcoin-etf-in-2024-is-at-95/" rel="noopener noreferrer nofollow"> Analysts: chance of SEC approving spot Bitcoin ETF in 2024 is at 95% </a> </p> 
<p>Excluded from this determination is Bitwise’s Bitcoin investment product, for which the agency is expected to provide an update by Sep. 1.</p> 
<p>The Bitwise CEO has since taken to X, formerly Twitter, to say it is time to&nbsp;move forward with a Bitcoin ETF after a 10-year wait.</p> 
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   <p lang="en" dir="ltr">Bitwise CEO Matt Hougan says that it is "time to move forward" with a spot-Bitcoin ETF because the crypto industry is ready after a 10-year journey <a href="https://t.co/CmoIjVXwF0" target="_blank" rel="noopener noreferrer nofollow">https://t.co/CmoIjVXwF0</a> <a href="https://t.co/ci8I0eflM7" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ci8I0eflM7</a></p>— Bloomberg Crypto (@crypto) <a href="https://twitter.com/crypto/status/1697353942257054134?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 31, 2023</a> 
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<p>Lately, news related to Bitcoin ETF applications has sparked market volatility.</p> 
<p>For instance, shortly after the Grayscale’s <a href="https://crypto.news/grayscales-bitcoin-etf-optimism-bolsters-crypto-market-sentiment/" data-type="post" data-id="14189903" rel="noopener noreferrer nofollow">ruling</a>, Bitcoin’s trading volume surged by 44% in response to the perceived institutional interest. </p> 
<p>Subsequently, over 37,680 BTC were withdrawn from exchanges, with this action thought to be users capitalizing on short-term gains.</p> 
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<p> Read more: <a href="https://crypto.news/grayscales-bitcoin-etf-optimism-bolsters-crypto-market-sentiment/" rel="noopener noreferrer nofollow"> Grayscale’s Bitcoin ETF optimism bolsters crypto market sentiment </a> </p>

US SEC postpones ruling on 6 spot Bitcoin ETF applications

crypto.news

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