The Securities and Exchange Commission (SEC) has said it needs a “longer period” to evaluate several spot Bitcoin ETF application, including those of Wisdom Tree Funds, Invesco and Galaxy Digital, and Valkyrie Funds.
According to a filing from the securities regulator, it’ll need until at least Oct. 17 to decide whether to approve or reject the applications. The SEC would have otherwise been due to announce a decision on the applications before Saturday, Sept. 2.
Earlier this week there was a spike in anticipation for a spot Bitcoin ETF—an exchange-traded fund that tracks the price of Bitcoin—after a court sided with crypto asset manager Grayscale in its own effort to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF. But as experts have pointed out, the court ruling isn’t the same as an approval and the securities regulator still has 45 days to appeal the judge’s opinion.
Market analysts expect the SEC to delay decisions on the remaining Bitcoin ETF applications.
This is a developing story and will be updated.
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Source: https://decrypt.co/154505/sec-bitcoin-etfs-more-delays
