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The U.S. Securities and Exchange Commission delayed multiple decisions on proposed spot Bitcoin (BTC) ETFs ahead of a possible government shutdown. 
Pending applications from <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98614.pdf" target="_blank" rel="noopener noreferrer nofollow">VanEck</a>, <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98623.pdf" target="_blank" rel="noopener noreferrer nofollow">WisdomTree</a> and <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98639.pdf" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a> were all delayed on Sept. 28, <a href="https://www.theblock.co/post/253620/sec-continues-filing-frenzy-delaying-bitcoin-etfs-from-fidelity-vaneck-and-wisdomtree" data-type="link" data-id="https://www.theblock.co/post/253620/sec-continues-filing-frenzy-delaying-bitcoin-etfs-from-fidelity-vaneck-and-wisdomtree" target="_blank" rel="noopener noreferrer nofollow">per</a> The Block. The regulator said it was instituting additional proceedings to determine whether the proposed ETFs should be approved or disapproved. 
The SEC asked for input from commentators, who have 21 days to submit written data, views, and arguments. There’s another 35-day rebuttal period, which suggests the approval process will drag on for at least a few more months. 
<blockquote class="wp-block-quote"> 
 Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. <cite>SEC’s WisdomTree <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98623.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a></cite> 
</blockquote> 
 You might also like: <a href="https://crypto.news/sec-delays-bitcoin-etf-proposal-seeks-public-input/" rel="noopener noreferrer nofollow"> SEC delays Bitcoin ETF proposal, seeks public input </a> 
<blockquote class="wp-block-quote"> 
 Do commenters agree with the Exchange that the Chicago Mercantile Exchange, on which CME Bitcoin futures trade, represents a regulated market of significant size related to spot Bitcoin? <cite>SEC’s request for comment in the WisdomTree <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98623.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a></cite> 
</blockquote> 
Applications from <a href="https://www.sec.gov/files/rules/sro/nasdaq/2023/34-98610.pdf" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>, <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98613.pdf" target="_blank" rel="noopener noreferrer nofollow">Invesco</a>, <a href="https://www.sec.gov/files/rules/sro/nasdaq/2023/34-98606.pdf" target="_blank" rel="noopener noreferrer nofollow">Valkyrie</a> and Bitwise were also delayed. 
The U.S. House of Representatives and the Senate are at an impasse due to a short-term bill proposed by Republicans that does not include funding for Ukraine. As a result, the U.S. government will officially shut down at 12:01 a.m. ET on Sunday if an agreement isn’t reached. 
 Read more: <a href="https://crypto.news/analyst-valkyrie-likely-pressured-not-to-buy-more-ethereum-futures/" rel="noopener noreferrer nofollow"> Analyst: Valkyrie likely pressured not to buy more Ethereum futures </a>

SEC hustles to delay Bitcoin ETFs amid looming government shutdown

crypto.news

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