United

Bitcoin

James

<div class="cryptonews"> 
 <p class="is-style-lead">The United States Securities and Exchange Commission (SEC) has postponed its <a rel="noopener noreferrer nofollow" title="ruling" href="https://thebittimes.com/tag/ruling.html">ruling</a> on six spot Bitcoin exchange-traded fund (ETF) <a rel="noopener noreferrer nofollow" title="applications" href="https://thebittimes.com/tag/applications.html">applications</a> from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Fidelity, and BlackRock.</p> 
 <p>In a filing 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 <a rel="noopener noreferrer nofollow" title="applications" href="https://thebittimes.com/tag/applications.html">applications</a> with surveillance-sharing agreements, prompting several firms to resubmit their <a rel="noopener noreferrer nofollow" title="applications" href="https://thebittimes.com/tag/applications.html">applications</a>. </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> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Analysts: chance of SEC approving spot Bitcoin ETF in 2024 is at 95% 
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 <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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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <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 https://t.co/CmoIjVXwF0 pic.twitter.com/ci8I0eflM7</p>— Bloomberg Crypto (@crypto) August 31, 2023 
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 <p>Lately, news related to Bitcoin ETF <a rel="noopener noreferrer nofollow" title="applications" href="https://thebittimes.com/tag/applications.html">applications</a> has sparked market volatility.</p> 
 <p>For instance, shortly after the Grayscale’s <a rel="noopener noreferrer nofollow" title="ruling" href="https://thebittimes.com/tag/ruling.html">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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  <div class="wp-block-embed__wrapper"> <iframe title="What an approved spot bitcoin ETF could mean for the crypto industry?" width="1020" height="574" src="https://www.youtube.com/embed/aa3TnwGoJ_A?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Grayscale’s Bitcoin ETF optimism bolsters crypto market sentiment 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-sec-postpones-ruling-on-6-spot-bitcoin-etf-applications-tbt61153.html">https://thebittimes.com/us-sec-postpones-ruling-on-6-spot-bitcoin-etf-applications-tbt61153.html</a></p>

US SEC postpones ruling on 6 spot Bitcoin ETF applications

TheBitTimes

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