The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the approval of spot-based Bitcoin (BTC) exchange-traded funds (ETFs) until October. This includes bids from financial firms Invesco, WisdomTree and Valkyrie. A Bitcoin ETF would give investors exposure to the crypto asset through brokerages, much like precious metals such as gold and silver. Bloomberg ETF analyst James Seyffart said it would have been shocking if the SEC had actually made its decision this week. He added that the next major days to watch are October 16th. Earlier this week, Seyffart and another Bloomberg ETF analyst, Eric Balchunas, said that there’s a 75% chance that a spot market BTC ETF would be approved by the end of 2023 and a 95% chance that it would be approved by the end of 2024. Former SEC Chairman Jay Clayton recently said that the approval of BTC ETFs is “inevitable” as it’s obvious that Bitcoin doesn’t qualify as a security and the SEC’s concerns about investor safety have been addressed by financial institutions. Bitcoin is currently trading for $25,627. The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the approval of spot-based Bitcoin (BTC) exchange-traded funds (ETFs) until October. This includes bids from financial firms Invesco, WisdomTree and Valkyrie. Bloomberg ETF analyst James Seyffart said it would have been shocking if the SEC had actually made its decision this week, adding that the next major days to watch are October 16th. Earlier this week, Seyffart and another Bloomberg ETF analyst, Eric Balchunas, said that there’s a 75% chance that a spot market BTC ETF would be approved by the end of 2023 and a 95% chance that it would be approved by the end of 2024. Former SEC Chairman Jay Clayton recently said that the approval of BTC ETFs is “inevitable” as it’s obvious that Bitcoin doesn’t qualify as a security and the SEC’s concerns about investor safety have been addressed by financial institutions. Bitcoin is currently trading for $25,627.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | James Seyffart, Jay Clayton, Eric Balchunas |
| Companies | Valkyrie, SEC, WisdomTree, Bloomberg, Invesco |
| Currencies | Ethereum, Bitcoin |
| Securities | Valkyrie, WisdomTree, Invesco |
