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Bitcoin

James

According to the latest publications, the Securities and Exchange Commission (SEC) of the United States has <a href="https://twitter.com/EricBalchunas/status/1697328538670473484?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1697328538670473484%7Ctwgr%5E84469f19a5223c1112399456a91561018afcc8d9%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fsec-delays-decision-on-wisdomtree-s-spot-bitcoin-etf" rel="noopener noreferrer nofollow">postponed</a> the decision of a total of seven proposals for spot Bitcoin exchange-traded funds (ETFs).&nbsp; 
<h2 id="span-style-font-weight-400-sec-delays-decisions-on-etfs-span">SEC Delays Decisions on ETFs</h2> 
In accordance with the SEC filings dated Aug. 31, the regulatory body is currently delaying to reach the decision on applications for Bitcoin exchange-traded funds from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Bitwise Asset Management, BlackRock, and Fidelity. 
<h3 id="span-style-font-weight-400-timeline-extended-till-october-span">Timeline Extended till October</h3> 
The agency has given itself an extended span of time to consider all of these applications. Following submission in the Federal Register, the SEC will have 45 days to evaluate the suggested policy adjustments, giving the regulator till October to accept, refuse, or delay the decision. 
<h2 id="span-style-font-weight-400-loss-in-grayscale-lawsuit-span">Loss in Grayscale Lawsuit</h2> 
The fact that the SEC has not turned down the product and that the<a href="https://thecoinrise.com/grayscale-wins-court-battle-over-bitcoin-etf-approval-against-the-sec/" rel="noopener noreferrer nofollow"> way the court resolved the Grayscale case</a> exceeded expectations which has caused many researchers to express increased confidence in the product’s possible emergence for the first time. 
Prominent ETF analysts at Bloomberg, James Seyffart and Eric Balchunas, recently <a href="https://thecoinrise.com/odds-of-bitcoin-etf-approval-surge-following-grayscales-victory/" rel="noopener noreferrer nofollow">updated their projections</a> in light of Grayscale’s lawsuit victory. They had previously projected a 65% chance that a spot Bitcoin (BTC) ETF would debut this year. However, the most recent postponement has moved the new deadline to October 17. 
<h3 id="span-style-font-weight-400-multiple-bitcoin-etf-applications-submitted-with-the-sec-span">Multiple Bitcoin ETF Applications Submitted with the SEC</h3> 
Notably, investment asset management business <a href="https://thecoinrise.com/wisdomtree-reapplies-to-u-s-sec-for-bitcoin-etf/" rel="noopener noreferrer nofollow">WisdomTree submitted a Bitcoin ETF application</a> to the SEC in June, nearly nine months after its <a href="https://thecoinrise.com/u-s-sec-rejects-wisdomtrees-spot-btc-etf-proposal/" rel="noopener noreferrer nofollow">last application had been turned down</a> due to concerns regarding inadequate fraud and investor protections. The application was filed less than <a href="http://v" rel="noopener noreferrer nofollow">a week following BlackRock’s application</a>.&nbsp; 
BlackRock also submitted an application for a spot BTC ETF along with American cryptocurrency exchange Coinbase. Moreover, in June, <a href="https://thecoinrise.com/fidelity-investments-submits-application-for-spot-bitcoin-etf-with-sec/" rel="noopener noreferrer nofollow">Fidelity Investments</a> officially sent in its proposal for the spot Bitcoin ETF. Its earlier application to the US SEC for a Bitcoin ETF was <a href="https://thecoinrise.com/us-sec-rejects-fidelitys-wise-origin-bitcoin-trust-spot-etf-application/" rel="noopener noreferrer nofollow">previously denied</a> in the beginning of the year 2022. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/sec-postpones-decision-of-seven-bitcoin-etf-applications/">SEC Postpones Decision of Seven Bitcoin ETF Applications</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

SEC Postpones Decision of Seven Bitcoin ETF Applications

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