Bitcoin and cryptocurrency investors are locked in on news from the SEC, which slows down decision-making on Bitcoin ETF applications.
The SEC has not yet made a decision on the more than 10 pending Bitcoin ETFs already in front of it, and finally postponed its decision on four applications until November.
SEC chairman Gensler stated earlier this year that Bitcoin ETFs must be made under the Investment Company Act of 1940. After these statements, applications made to the SEC in this format came.
Among all these developments, Bloomberg noted in a recent article that the time is running out for the SEC, chaired by Gary Gensler, to decide whether to accept or reject Bitcoin ETFs.
Bloomberg ETF expert James Seyffart expressed optimism that the SEC will approve the Bitcoin ETFs that are before it.
According to the article, Galaxy Digital’s ETF has the highest approval rate, followed by VanEck’s ETF in second place.
In addition, Bloomberg’s senior ETF strategist Eric Balchunas and Mike McGlone also stated that they are optimistic about the SEC’s approval, considering that the SEC may approve the Bitcoin ETF very soon.
Although the SEC has not yet approved a pure Bitcoin ETF, it has taken an important step in this regard by accepting the Volt Equity ETF application, which offers the opportunity to invest in Bitcoin indirectly.
Will the crypto community, which has been waiting for Bitcoin ETF approval from the US for years, get the much-anticipated approval by the end of October? We will be following developments closely.