US SEC Delays Decisions on Multiple Bitcoin (BTC) and Ethereum (ETH) ETF Applications
The U.S. Securities and Exchange Commission (SEC) is delaying its decisions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) applications until next year.
In new filings, the regulatory agency says that it will be delaying its decisions on applications filed by asset management firm Hashdex to create a mixed spot and futures Ethereum ETF and convert a Bitcoin futures ETF into a spot market one.
The SEC says it will also be pushing back its decision on crypto firm Grayscale’s bid for an ETH futures ETF.
In the statements, the SEC says that it needs more time to consider the proposed changes and is extending the original deadline of November 17th to January 1st, 2024.
“The Commission is extending [the] 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates January 1, 2024, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove, the proposed rule change.”
According to the documents, all three applications were originally filed on October 3rd, 2023.
Earlier this week, BlackRock – the largest investment firm in the world with over $8 trillion in assets under its management – filed an application with the SEC to create a spot market Ethereum ETF.
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Author: Mehron Rokhy
