Shared crypto bots

SEC Postpones Ruling on Bitcoin ETF Requests by BlackRock

The SEC has again delayed decisions on spot Bitcoin ETFs, including those from BlackRock, Invesco, and Bitwise.

The delays came earlier than expected, surprising applicants who anticipated responses between October 16 and 19.

These delays are linked to the potential government shutdown on October 1 if Congress fails to agree on funding bills.

Congress must pass 12 separate full-year funding bills by September’s end to avoid a shutdown, affecting agencies like the SEC.

This isn’t the first time the SEC has postponed Bitcoin ETF decisions; it happened in late August too.

The third set of deadlines for these firms is in mid-January, with the possibility of further extensions. The SEC must decide by mid-March at the latest.

Optimism for Bitcoin spot ETF approval has grown, with a 95% probability estimated by the end of 2024.

The SEC has yet to approve any Bitcoin spot ETF, citing concerns about clarity and investor protection.