{"id":23718,"date":"2023-09-27T05:27:26","date_gmt":"2023-09-27T05:27:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-delays-bitcoin-etf-approvals-sets-final-deadline-for-january-2024\/"},"modified":"2023-09-27T05:27:26","modified_gmt":"2023-09-27T05:27:26","slug":"sec-delays-bitcoin-etf-approvals-sets-final-deadline-for-january-2024","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-delays-bitcoin-etf-approvals-sets-final-deadline-for-january-2024\/","title":{"rendered":"SEC Delays Bitcoin ETF Approvals, Sets Final Deadline for January 2024"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The clearance procedure for Bitcoin exchange-traded funds (ETFs) has once more been postponed by the US Securities and Exchange Commission (SEC). The Ark\/21Shares ETF and GlobalX\u2019s ETF proposal, both keenly anticipated by the cryptocurrency community, are among the impacted applications.<\/p>\n

Despite entering the contest after the deadline, GlobalX\u2019s entry had a response date of October 7. The waiting time was, however, extended by the SEC. Similar to this, the SEC has now set a fresh deadline for the Ark\/21Shares ETF, which was previously required to make a decision by November 11.<\/p>\n

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The SEC recently filed a document in which it declared: \u201cThe Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change.\u201d<\/em> The SEC must submit its final report by this date.<\/p>\n

The SEC postponed Ark\u2019s application in August, along with many other applications from competitor businesses that were initially due in early September, and this postponement comes after a slew of earlier delays. Notably, one of the top rivals, BlackRock, has set its subsequent deadline for October 17; however, this date may be extended.<\/p>\n

A group of legislators that favor cryptocurrency wrote a letter to SEC Chair Gary Gensler at the same time as the most recent postponement. They pleaded with Gensler in the letter not to treat spot Bitcoin exchange-traded funds differently.<\/p>\n

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Grayscale recently prevailed in dispute against the SEC<\/a>, securing a victory for the cryptocurrency sector. The complaint contended that the SEC\u2019s decision to approve futures ETFs but rejecting a spot Bitcoin ETF was \u201carbitrary and capricious.\u201d This victory has increased interest in the SEC\u2019s reaction, which can entail authorizing a spot ETF or contesting the court\u2019s ruling.<\/p>\n

James Seyffart, an analyst with Bloomberg ETFs, feels that the delays on Tuesday have raised questions about whether a spot Bitcoin ETF will be authorized before year\u2019s end. He predicted that there would soon be more delays, perhaps as a result of the SEC getting ready for a potential federal government shutdown.<\/p>\n

In the meanwhile, Bitwise, another candidate for the Bitcoin ETF, has updated its application. The amendment presents new defenses against the SEC\u2019s justifications for rejecting spot ETFs.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) The clearance procedure for Bitcoin exchange-traded funds (ETFs) has once more been postponed by the US Securities and Exchange Commission (SEC). The Ark\/21Shares ETF and GlobalX\u2019s ETF proposal, both keenly anticipated by the cryptocurrency community, are among the impacted applications. Despite entering the contest after the […]<\/p>\n","protected":false},"author":34,"featured_media":23719,"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\/23718"}],"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=23718"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23719"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}