The U.S. Securities and Exchange Commission (SEC) has postponed decisions on proposed rule changes related to spot Bitcoin ETFs until October. The decisions on the Cboe BZX Exchange proposals will be delayed until October 17, while the decision on the Valkyrie proposal will be delayed until October 19.The latest round of proposed rule changes is seen as promising, with asset management giant BlackRock being one of the first applicants. BlackRock’s proposal has two factors in its favor: the company has a high success rate with past ETF proposals, and its proposed Bitcoin spot ETF relies on Coinbase for its surveillance-sharing agreement.The legal outcome for Grayscale, which intends to convert its GBTC fund to an exchange-traded fund, has also contributed to general optimism. However, that victory alone does not allow Grayscale to offer a spot Bitcoin ETF, and Grayscale’s plans differ from those of most other recent spot Bitcoin ETF applicants.The SEC has not yet approved any spot Bitcoin ETF to date, and it is unclear whether it is possible for the SEC to delay its decisions again when the next deadlines are reached. As such, the SEC will not necessarily approve any proposals at the next deadline, regardless of any optimism.
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 | WisdomTree, Valkyrie Investments, Fidelity, VanEck, Invesco |
| Companies | SEC, WisdomTree, Fidelity (Wise Origin), Valkyrie Investments, VanEck, BlackRock, Invesco, Grayscale |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
