{"id":23218,"date":"2023-09-01T07:45:08","date_gmt":"2023-09-01T07:45:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-delays-decision-on-spot-bitcoin-etfs\/"},"modified":"2023-09-01T07:45:08","modified_gmt":"2023-09-01T07:45:08","slug":"sec-delays-decision-on-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-delays-decision-on-spot-bitcoin-etfs\/","title":{"rendered":"SEC Delays Decision on Spot Bitcoin ETFs"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The United States Securities and Exchange Commission (SEC) is presently in the limelight in the quickly developing world of cryptocurrencies. The SEC has chosen to review six applications for spot Bitcoin exchange-traded funds (ETFs) over a longer period of time. Invesco Galaxy, Bitwise, Valkyrie, WisdomTree, VanEck, and Fidelity\u2019s Wise Origin Bitcoin Trust are among the companies whose bids are being examined by the commission. The SEC has given itself an extra 45 days to evaluate these petitions; a judgment on whether to approve, refuse, or further postpone a decision must be made by the end of October.<\/p>\n

Legal Battles and Changing Tides<\/strong><\/h2>\n

Given the recent changes in the bitcoin sector, this choice to wait has drawn a lot of attention. The SEC\u2019s action follows an important legal defeat for asset management Grayscale, in which an appeal court decided on August 29 that the SEC must take Grayscale\u2019s petition into consideration for the conversion of its Bitcoin Trust into an ETF. The likelihood of a spot Bitcoin ETF<\/a> being approved in the US has increased as a result of this decision, according to analysts. Key contender in the Bitcoin ETF race WisdomTree failed to win SEC clearance for their proposal in 2021.<\/p>\n

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However, since BlackRock entered the competition, they just resubmitted their application. Some companies resubmitted their applications with Coinbase as a partner after hearing in July that the SEC would be more receptive to ETF applications that contain a surveillance-sharing arrangement. A few of the companies with pending crypto ETF applications at the SEC are WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise, and Invesco. Additionally involved are ARK Invest and BlackRock.<\/p>\n

The SEC\u2019s decision to postpone implies they want to carefully analyze these applications, even taking into account the national holiday of Labor Day on September 4th. Bitwise\u2019s BTC investment vehicle was anticipated to be the first to obtain a decision as its deadline was set for September 1st. Investors and supporters of cryptocurrencies are closely following these developments since a U.S. approval of a spot Bitcoin ETF may have huge repercussions for the cryptocurrency market and the larger financial industry.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) The United States Securities and Exchange Commission (SEC) is presently in the limelight in the quickly developing world of cryptocurrencies. The SEC has chosen to review six applications for spot Bitcoin exchange-traded funds (ETFs) over a longer period of time. Invesco Galaxy, Bitwise, Valkyrie, WisdomTree, VanEck, […]<\/p>\n","protected":false},"author":34,"featured_media":23219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23218"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23218"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23219"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}