The US SEC Delays its Decision on 7 Bitcoin ETF’s
The U.S. SEC has pushed back decisions on seven Bitcoin ETF’s. They need more time to review details and concerns before approval.
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on seven Bitcoin-related funds (Bitcoin ETF).
The SEC is looking at many new applications. Deadlines for Bitcoin funds from companies like BlackRock, Fidelity, and VanEck have been moved to October 17. Two other funds have deadlines on October 16 and 19.
The SEC needs more time to check the details and make sure everything is okay. They want to look closer at one proposal from WisdomTree. The SEC worries about cheating and other problems in the Bitcoin market, so they haven't said "yes" to any of these funds yet.
In July, the SEC said they got these fund requests. Many experts thought the SEC might delay its decision. Some think the SEC might decide on all the funds at the same time.
Another Bitcoin fund by ARK Invest and 21Shares also had its decision delayed by the SEC. This adds one more month to their waiting time.
Recently, a court supported Grayscale Investments in a fight with the SEC about a Bitcoin fund. This means the SEC might need to look at Grayscale's request again. It might help other Bitcoin funds get approval in the future.
