The U.S. Securities and Exchange Commission (SEC) has decided to delay, demanding more details about ETF applications submitted by two different companies.
In the official statement published on November 28, the SEC stated that Hashdex’s current Application to convert forward Bitcoin ETF to spot ETF and Franklin Templeton Shares of Franklin Bitcoin ETF He announced that the decision on the matter was postponed.
The SEC had decided to postpone these two ETF applications in recent weeks, and the regulatory body was not expected to make a statement on this issue again before January. These new statements, which came shortly after the first decision, were interpreted as the SEC stepping up its hand regarding the spot Bitcoin ETF process.
Stating that efforts are continuing to collect detailed information about the ETFs in question, the SEC also asked for more information from the public. feedback he demanded. More analysis The regulatory body, which stated that it had initiated action in this direction and commented on both funds, in 21 days He emphasized that it should be done:
The initiation of proceedings does not imply that the Commission has reached any conclusion in relation to any of the matters concerned. Rather, the commission asks and encourages interested parties to comment on the proposed rule change.
Hashdex is converting its ETF listed on the New York Stock Exchange (NYSE) into a Spot ETF. September in the month had applied. SEC 15 November In another statement shared on , he submitted a file confirming the delay in the decision on Hashdex’s application. The SEC set the review period in that file. will extend it for another 45 days he stated.
Making a statement on the subject, Bloomberg senior ETF analyst James Seyffart stated that the SEC has accelerated the process on applications and described this as a positive development. Seyffart social media in the post He made the following statements:
Wow. The SEC acted too early on Franklin. They were not expected to make another decision until January 1. Notably, Franklin is the only issuer that has not yet filed an updated S-1. I wonder if this has any impact here? Could the SEC’s quick action be in preparation for a wave of ETF approvals that will come in January?