Hassan Maishera
TL;DR
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The US SEC has delayed its decision on Bitcoin ETF applications filed by Fidelity, VanEck, and WisdomTree.
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The regulator had already delayed numerous Bitcoin ETF applications last month.
SEC Delays More Bitcoin ETF Applications
The United States Securities and Exchange Commission (SEC) has delayed its decision for three more spot Bitcoin ETF proposals. The regulatory agency made this decision ahead of a possible government shutdown.
The SEC revealed that it had delayed its decisions on proposed spot bitcoin ETFs from VanEck, WisdomTree and Fidelity. It added that it was instituting additional proceedings to determine whether the proposed ETFs should be approved or disapproved.
The regulator is now asking for input from commentators and has given them 21 days to submit written data, views and arguments. Furthermore, there is an additional 35-day rebuttal period, which suggests the decision will likely come a few months from now.
While addressing the WisdomTree proposal, the SEC said,
"Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Do commenters agree with the Exchange that the Chicago Mercantile Exchange, on which CME bitcoin futures trade, represents a regulated market of significant size related to spot bitcoin?"
The regulator said it wants fresh views about a proposed surveillance-sharing agreement with crypto exchange Coinbase.
The SEC had previously delayed decisions for proposed spot Bitcoin ETFs from BlackRock, Invesco, Valkyrie and Bitwise. The delay hasn’t affected Bitcoin’s price negatively, as BTC is now trading above $28k, up by more than 3% in the last 24 hours.
