U.S. SEC May Delay Bitcoin ETF Launch Even After Approval.
SEC's decision on Bitcoin ETF looms, but launch may face delays even with approval.
The SEC might approve a Bitcoin ETF soon, but it would still take a month to start.
To launch a Bitcoin ETF, two SEC approvals are required — one for trading rules and one for the ETF's details and risks.
Out of 12 applications, nine have shown they're working on their ETF details and have communicated with The SEC’s Corporate Finance (in charge of ETF details and risks). But, if the SEC says 'yes' to trading before the ETF details are finalized, the launch could be held up.
James Seyffart from Bloomberg says that even after trading approval, finalizing details could take weeks or months. The SEC has until Nov 17 to approve a Bitcoin ETF, but experts think it won't happen until next year.
Background: BlackRock started the race for a Bitcoin ETF in the U.S., followed by others like Fidelity. Many were rejected or withdrawn, but hopes are high for approval this cycle, with a 90% chance predicted by some.
