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 <p>The SEC has delayed its determinations on spot BTC ETFs from various companies, including established financial institutions such as BlackRock, Fidelity Investments, and Invesco, until at least mid-October.</p>  
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 <p>In their research note, the analysts emphasized that for the SEC to decline both Grayscale’s bid to transform its GBTC product into a spot BTC ETF, it would necessitate a reversal of its previous approvals of futures-based ETFs. They further noted that such a move would be highly disruptive and potentially embarrassing for the SEC, making it appear unlikely.</p> 
 <p>Thus, the analysts added that “it looks more likely that the SEC would be forced to approve the spot bitcoin ETF applications that are still pending from several asset managers, including that from Grayscale,” This postponement “likely points to approval of multiple spot bitcoin ETF applications at once rather than granting a first-mover advantage to any single applicant,&nbsp;The Block.</p> 
 <h3 id="sec-s-recent-delay-of-spot-bitcoin-etfs-hints-multiple-approvals">SEC’s Recent Delay of Spot Bitcoin ETFs Hints Multiple Approvals</h3>  
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 <p>Last Thursday, August 31, the US SEC delayed its decision on all of the seven spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s adding that it would require sufficient time to consider the proposed rule change. The next review from the SEC is pending mid-October 2023.</p>  
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 <p>Commenting on this, the JPMorgan analysts added: This postponement “likely points to approval of multiple spot bitcoin ETF applications at once rather than granting a first-mover advantage to any single applicant”.</p> 
 <p>“That could be beneficial for investors as it would allow for more competition in terms of ETF fees. Grayscale will likely face even bigger pressure to lower fees if its trust gets approval to be converted to the largest bitcoin spot ETF in the world,” the analysts added.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/jpmorgan-sec-will-approve-multiple-spot-bitcoin-etf-at-once-tbt61384.html">https://thebittimes.com/jpmorgan-sec-will-approve-multiple-spot-bitcoin-etf-at-once-tbt61384.html</a></p>

JPMorgan: SEC Will Approve Multiple Spot Bitcoin ETF At Once

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