US Securities Regulator Postpones Decision on Bitcoin ETF Proposals Amidst Shutdown Fears
Summary:
The US Securities Exchange Commission defers decisions on several spot Bitcoin exchange-traded fund (ETF) proposals, including those by BlackRock, Invesco, Bitwise, and Valkyrie. Potential delays are also anticipated for applications from Fidelity, VanEck, and WidsomTree. These postponements come amidst potential government shutdown fears due to Congress' failure to agree on multiple funding bills. The SEC had previously delayed other similar Bitcoin ETF applications and a final decision is anticipated by mid-March. Details on cryptocurrency protection in volatile markets are discussed by experts in the latest magazine feature.
The decision regarding several proposals for spot Bitcoin exchange-traded funds (ETFs), including one from BlackRock, has been postponed by the US securities regulator amidst looming government shutdown fears. Additional firms impacted by this delay as per filings from the Securities Exchange Commission on September 28th, comprise Invesco, Bitwise, and Valkyrie. It's speculated by Bloomberg ETF analyst James Seyffart that the offerings from Fidelity, VanEck, and WisdomTree will likely face similar extensions from the regulatory body.
With the most recent holdups from the SEC emerging just a fortnight prior to the secondary deadline for multitudes of applicants anticipating a response between October 16-19, governmental closure appears probable on October 1st. This is primarily due to Congress' failure to reach an agreement on multiple funding bills crucial to the continuation of government operations.
Previous to this, the SEC had already moved the initial deadline for a cluster of spot Bitcoin ETF candidates to a later date in early September. In addition, a tertiary deadline in mid-January is in place for these seven companies, which could potentially undergo further delay. Consequently, the SEC is expected to convey its conclusive resolution no later than mid-March. Additional details concerning this evolving situation will be supplied as they surface.
In a fluctuating market, understanding how to safeguard your cryptocurrency is vital. Experts and Bitcoin old-timers offer their advice in our latest magazine feature.
Published At
9/28/2023 10:25:53 PM
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