The US Securities and Exchange Commission (SEC) spot Bitcoin (BTC) exchange-traded fund (ETF) decisions of BlackRock, Invesco, Bitwise and Valkyrie have been postponed for the second time.
The SEC continues to delay its final decision on spot Bitcoin ETFs. by the regulatory body on September 28 In the official statement, first Valkyrieannounced that it decided to postpone its application for the spot Bitcoin ETF.
SEC then giant investment companies BlackRock’s “iShares Bitcoin Trust”Invesco’s “Invesco Galaxy Bitcoin ETF” and Bitwise “Bitwise Bitcoin ETP Trust” The decision regarding spot Bitcoin ETF applications called more research and review request He stated that it was postponed to a later date for the reason.
regulatory body Valkyrie created by “Valkyrie Bitcoin Fund (BRRR)” In his comment on the file, he emphasized that it is appropriate to initiate proceedings, but this does not mean that a decision has been reached on the issue:
Given the legal and policy issues raised by the proposed rule change, it is appropriate to initiate proceedings at this time. However, the initiation of the review process does not indicate that the commission has reached a conclusion regarding any of the relevant issues.
SEC to decide on such an important issue and make rule changes. more time is needed while emphasizing the subject “to the commentators” Some about applications Questions directed.
Among these questions asked were:
- “What do commenters think about whether the submitted application is designed to prevent fraudulent and manipulative acts and practices?”
- “What do commentators think about the liquidity and transparency of Bitcoin markets and the susceptibility of Bitcoin markets to manipulation?”
SEC also announced that the US-based cryptocurrency exchange Coinbase to these giant institutions surveillance And sharing to mediate on fraud And your manipulations He added to his questions whether it would be useful in detecting and preventing it.
SEC similar questions It also brought to the agenda the applications directed by other institutions and same processes He decided to apply it to them too.
Commenters to give feedback 21 day periods will be. Then, my feedback will be discussed and reviewed again. another 35 days will be recognized. This means that spot Bitcoin ETF applications has been postponed for at least a few more months means.
Other pending ETFs
On the other hand, there are ETFs for which the SEC has not yet made any decision. In the SEC’s current situation, Fidelity’s “Wise Origin Bitcoin Trust”Wisdomtree “Wistdomtree Bitcoin Trust (BTCW)” and VanEck “VanEck Bitcoin Trust” spot ETF It is expected to make a decision on their applications soon.
The SEC recently announced that both Ark Invest and 21Shares were joint ventures. “ARK 21Shares” spot Bitcoin ETF application as well as Global X Bitcoin Trust ETF He postponed his decision.