SEC Once Again Delays Decision on Four Leading Bitcoin ETF Applications!

The SEC has four leading players currently under consideration. Bitcoin exchange traded fund It once again postponed its decision on the (ETF) application.

The SEC made separate announcements for Bitwise, Invesco Galaxy Digital and Valkyrie, along with BlackRock, on September 28.

This marks the SEC’s second extension in a month for BlackRock, Invesco, Galaxy Digital and Valkyrie Funds.

The SEC said a formal process is ongoing under Section 19(b)(2)(B) of the Securities Exchange Act of 1934. The Commission is currently collecting public comments on the proposal and has not yet made a decision. As we reported, the final decision date for these Bitcoin exchange-traded fund applications was scheduled for October 16 to 19.

However, due to the expected government shutdown this weekend, the SEC has accelerated its announcement.

Government funding will end at 12:01pm on Sunday. Many federal agencies, including the SEC, will be temporarily closed and economic data releases will be halted.

SEC Continues to Delay ETF Applications

This year, at least seven investment firms have either filed new applications or resubmitted spot Bitcoin ETF applications.

This does not include Grayscale’s move to convert its Bitcoin trust shares into an ETF.

A US court recently SECOverturned ‘s decision not to approve Grayscale’s application, increasing its chances of approval in the near future.

Earlier this week, the SEC postponed Ark Invest’s ETF application for the second time.

There are also three other ETFs with filing deadlines in the third week of October: WisdomTree, Fidelity, and VanEck.

Those applications before the U.S. government shutdown are likely to face similar delays, according to Bloomberg’s ETF expert James Seyffart.

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