HomeFinance NewsSEC Postpones Bitcoin ETF Decision Amid Impending Government Shutdown

SEC Postpones Bitcoin ETF Decision Amid Impending Government Shutdown

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The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on four high-profile Bitcoin exchange-traded funds (ETFs). The SEC announced that the proposals from BlackRock, Bitwise, Invesco Galaxy Digital, and Valkyrie would undergo a formal process, and public comments are still being gathered. The deadline for a decision was originally set for mid-October, but the announcement was expedited due to an impending government shutdown.

This is the second extension for these ETF applications in a month, and it comes as seven investment firms have filed or resubmitted spot Bitcoin ETF applications this year. Grayscale’s recent legal victory in overturning the SEC’s decision to disapprove its application also increases the likelihood of approval in the future. Additionally, Ark Invest’s ETF application was also delayed for the second time this week.

Furthermore, there are three more ETFs with upcoming deadlines from WisdomTree, Fidelity, and VanEck. Bloomberg’s ETF expert, James Seyffart, predicts that these applications are likely to face similar delays due to the government shutdown. The SEC’s ongoing hesitation and delay in approving Bitcoin ETFs reflects the regulatory uncertainty surrounding digital assets in the United States.

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