The SEC has delayed its decision on seven Bitcoin ETF proposals, including those from industry giants such as BlackRock, Fidelity, Bitwise, VanEck, Valkyrie, Invesco & Galaxy, and WisdomTree. This 45-day delay adds to the long list of setbacks for institutions aiming to secure approval for a Bitcoin ETF, as the SEC has previously cited concerns over potential market manipulation. Just days earlier, ETF analysts had increased the likelihood of a spot Bitcoin ETF launch to 75% within this year, and a 95% chance by the end of 2024. This was largely due to the SEC’s recent court defeat against Grayscale over their bid to transform their Bitcoin Trust into an ETF. The markets reacted with Bitcoin dipping 4.7% to $26,000 over the past 24 hours, according to data from CoinGecko.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	WisdomTree, Fidelity, VanEck, BlackRock, Invesco
Companies	Bitwise, Galaxy, Valkyrie, Invesco, SEC, WisdomTree, Fidelity, VanEck, BlackRock, Grayscale
Currencies	US Dollar, Sector, coingecko, Ethereum, Bitcoin
Securities	None