Franklin

Bitcoin ETF

Bitcoin

The U.S. SEC once again delays its decision to approve two spot Bitcoin ETFs, raising speculations in the crypto space. Meanwhile, the market already expected a delay for both Franklin Templeton’s&nbsp;and&nbsp;Global X’s spot Bitcoin ETF applications as they fall behind other spot Bitcoin ETF issuers in the race to approve the first spot Bitcoin ETF in the US. This may result in the SEC delaying its decision on approval of all Bitcoin ETFs. 
<h2 id="us-sec-delays-approval-of-franklin-templetonandglobal-x-bitcoin-etf">US SEC Delays Approval of Franklin Templeton&nbsp;and&nbsp;Global X Bitcoin ETF</h2> 
The U.S. Securities and Exchange Commission’s (SEC) decisions on approvals for both <a rel="nofollow" href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98945_2.pdf" target="_blank">Franklin Templeton’s</a>&nbsp;and&nbsp;<a rel="nofollow" href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98981.pdf" target="_blank">Global X’s</a> spot bitcoin ETF applications have been delayed, according to reports. The move comes as both companies filed their initial applications later than other Bitcoin ETF issuers, which delayed submissions of their updated applications to the U.S. SEC. 
Bloomberg analyst James Seyffart said the comment period by the SEC on the Bitcoin ETFs should begin and last at least 35 days on the applications. 
<blockquote>
 “The comment period on this begins after it is posted to Federal Register which usually takes a couple days. so likely takes us into late December for Global X’s application specifically.”
</blockquote> 
Crypto investors will have to wait a little longer for the SEC to decide whether to approve the first exchange-traded fund to directly hold Bitcoin in the U.S. 
Earlier, the SEC delayed a decision on Brazilian asset manager <a href="https://coingape.com/sec-postpones-hashdex-grayscale-crypto-etf-decisions/" target="_blank" rel="noopener">Hashdex’s application</a> to convert its futures Bitcoin ETF to spot Bitcoin ETF. The delays are likely to impact decisions on all existing spot Bitcoin ETF applications, with the SEC to delay all applications. 
Bloomberg senior ETF analyst Eric Balchunas in a post on X said he doesn’t include <a href="https://coingape.com/wisdomtree-revises-spot-bitcoin-etf-sec-may-delay-comments-bloomberg-analyst/" target="_blank" rel="noopener">WisdomTree</a> and Franklin in the race as they filed so late and should be held back. He also pointed out that the SEC may delay all spot Bitcoin ETFs. 
<blockquote>
 “They took long enough. Pls tell me the SEC isn’t waiting till all S-1s are updates bf issuing second round of comments.”
</blockquote> 
Meanwhile, the SEC is in <a href="https://coingape.com/bitcoin-etf-sec-reportedly-in-talks-with-exchanges/" target="_blank" rel="noopener">talks with exchanges</a> over Bitcoin ETF to do cash creates. The SEC will ask them to get amendments in the next couple of weeks. 
Also Read: 
<ul> 
 <li><a href="https://coingape.com/worldcoin-wld-price-tanks-12-after-openai-ousts-sam-altman-whats-next" target="_blank" rel="noopener">Worldcoin (WLD) Price Tanks 12% After OpenAI Ousts Sam Altman, What’s Next?</a></li> 
 <li><a href="https://coingape.com/breaking-fidelity-investments-files-for-ethereum-spot-etf/" target="_blank" rel="noopener">Fidelity Investments Files for Ethereum Spot ETF</a></li> 
 <li><a title="Binance To Remove XRP, ETH, ADA, MATIC, SOL And 15 Other Crypto In RUB Pairs" href="https://coingape.com/binance-to-remove-xrp-eth-ada-matic-sol-and-15-other-crypto-in-rub-pairs/" target="_blank" rel="bookmark noopener">Binance To Remove XRP, ETH, ADA, MATIC, SOL And 15 Other Crypto In RUB Pairs</a></li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/bloomberg-analysts-expect-delays-in-all-etfs-as-us-sec-defers-two-spot-bitcoin-etf/">Bloomberg Analysts Foresee Delays Across All ETFs With US SEC’s Deferral Of Two Spot Bitcoin ETF</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Bloomberg Analysts Foresee Delays Across All ETFs With US SEC’s Deferral Of Two Spot Bitcoin ETF

Table of Contents

Coingape News Media

Other articles published on Nov 18, 2023

The SEC Has Engaged With Exchanges Over Spot ETFs’: Reports

Fidelity Pursues SEC Approval for Spot Ether ETF

Dogecoin derivatives volume surge by 110%; Here is what it means for DOGE

Preparing for the Bull, Whales Started Buying in This Altcoin!

Bullish Sentiment Surrounds AVAX Price As Republic Adopts Avalanche Blockchain

Fidelity seeks green light for Ethereum ETF, following BlackRock's filing

Join our free newsletter for daily crypto updates!