On Friday, the US Securities and Exchange Commission (SEC) postponed the deadlines for four bitcoin trading funds (ETFs) by another 45 days. The regulator notes that the entity needs more time to decide on ETF applications.
Deadlines Extended for Global X, Kryptoin, Valkyrie and Wisdomtree Bitcoin ETF
The Kryptoin Bitcoin ETF, Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund and Wisdomtree Bitcoin Trust have all been deferred according to the latest SEC filing. “The forty-fifth day after publication of the notice of this proposed rule change is October 24, 2021,” filing details of the US regulator. Although there is a large amount of Bitcoin ETFs deposited in the US, none of them have been approved by the SEC.
The SEC filing was published by Assistant Regulatory Secretary J. Matthew DeLesDernier. “The Committee found it appropriate to establish a longer period for action on the proposed rule change so that it would have sufficient time to consider the proposed rule change and any comments,” DeLesDernier details. Organizer adds:
Accordingly, pursuant to Section 19(b)(2) of the Act, the Commission sets December 8, 2021 as the date on which the Commission must approve or reject, or commence proceedings to determine whether to reject a proposed rule change, as amended by Amendment No. 1 (File No. SR-Nasdaq-2021-066).
Speculators Expect Bitcoin ETF Approval By End Of October
Many speculators believe that a Bitcoin ETF will be approved this year. Bloomberg analyst Eric Balchonas told the audience on Twitter that he believes the ETF will be approved by the end of October. Balchunas stressed that the Proshares Bitcoin ETF could be a potential candidate.
New note today from James Seifart [on] How Ether ETF withdrawals add to the possibility of launching a Bitcoin futures ETF by the end of October with Proshares as a favourite, [although] It can (and can be said that it should) be set to avoid the first mover advantage” She said. A Bloomberg analyst added:
We think the ether pull shows that the SEC has a nose for this [right now] and he is in [regular] Contacting the issuers which means ironing out any kinks so they can start after 75 days of depositing. Furthermore, Bitcoin MF was launched from ProFunds after 77 days of deposit. This is practically [the] The same.
As for the four Bitcoin ETFs that are late on Friday, they will have to wait a few more weeks patiently. “The Commission must either approve the proposed rule change, reject the proposed rule change, or initiate proceedings to determine whether the proposed rule change should be rejected,” concludes the SEC filing.
What do you think of the SEC delaying four Bitcoin ETFs on Friday? Tell us what you think about it in the comments section below.
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