SEC delays 4 bitcoin ETFs – regulator ‘deems it appropriate to set a long time’

On Friday, the US Securities and Exchange Commission (SEC) extended the deadline for four bitcoin exchange-traded funds (ETFs) by another 45 days. The regulator notes that entities need more time to make decisions about ETF applications.

Global X, Kryptoin, Valkyrie, Wisdomtree Bitcoin ETF has been extended

Cryptoin Bitcoin ETFs, Global X Bitcoin Trust, Valkiri XBTO Bitcoin Futures Fund and WisdomTree Bitcoin Trust have all been delayed according to the latest SEC filings. “October 45, 2021 is the 455th day for the notification of this proposed rule change,” the U.S. regulator’s filing statement said. Although large amounts of Bitcoin ETFs have been filed in the United States, the SEC has not yet approved any of them.

Revealed by J. Matthew Dales Darnier, Assistant Secretary of the SEC Filing Regulator. “The Commission has found that it is appropriate to set aside a long time to take action to change the proposed rules so that there is sufficient time to consider the proposed rules change and any comments,” the regulator added:

Accordingly, in accordance with section 19 (b) (2) of the Act, the Commission sets the date of December 8, 2021, by which the Commission will approve or reject, or establish procedures for determining whether the proposal will be approved, change the proposed rules, Amendment No. 1. (File No. SR-Nasdaq-2021-066).

Speculators expected a Bitcoin ETF approval by the end of October

Many speculators thought a Bitcoin ETF would be approved this year. Bloomberg analyst Eric Balchunas told the public on Twitter that he believes an ETF will be approved by the end of October. Balchunas stressed that Process Bitcoin ETF could be a potential candidate.

“A new note came out today from James Seffert [on] How does Ether ETF withdraw the possibility that the Bitcoin Future ETF will be launched in late October with Priusher, [although] Balchunas Said. Bloomberg analyst added:

We think Ether Withdrawal shows SEC has a nose [right now] And in between [regular] Contact the issuers which should mean that any kinks have been ironed so that they can be turned on 75 days after filing. Further, ProFunds’ Bitcoin MF was launched 77 days later. These are practically [the] Same thing.

As far as the four Bitcoin ETFs delayed on Friday, they will have to wait a few more weeks patiently. “The Commission will approve the proposed rule change, not approve the proposed rule change, or begin the process to determine whether the proposed rule change should be approved,” the SEC concluded filing.

What do you think about the SEC delaying four Bitcoin ETFs on Friday? Let us know what you think about this in the comments section below.

Tags in this story

2021, Bitcoin, Bitcoin ETF, BTC ETF, Crypto, Eric Balchunas, Global X Bitcoin Trust, J. Fund, WisdomTree

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