The US Securities and Exchange Commission (SEC) has delayed its decision on two spot Bitcoin ETF applications by ARK Invest and 21Shares and Global X, with the former postponed to January 2024. This means that investors and stakeholders may have to wait until next year to get such a product approved. In a letter published on Sept. 26, the SEC said that it is extending its decision to either reject or approve the ARK 21Shares spot Bitcoin ETF filing by another 60 days, with its final verdict on the proposal to happen on January 10, 2024. The agency also pushed its decision on Global X Bitcoin Trust till Nov. 21, 2023.Bloomberg ETF analyst James Seyffart noted that the SEC’s extensions of its verdict on the proposals from ARK Invest and 21Shares, and Global X happened earlier than usual while speculating that the regulator’s early move may be a result of a looming US government shutdown.The latest development by the SEC comes shortly after four members of Congress wrote a letter to the agency’s Chairman Gary Gensler, urging him to “immediately” approve spot Bitcoin ETF listing. According to the lawmakers, the court’s ruling in a case involving Grayscale and the SEC meant that the regulator had no further reason to continue to turn down spot BTC ETF filings “under inconsistent and discriminatory standards.”Spot Bitcoin ETF applications from companies such as BlackRock, Valkyrie, Invesco, Fidelity, VanEck, Bitwise, and WisdomTree were also extended and are due in October 2023. Bloomberg ETF analyst James Seyffart speculated that there could be more delays in the coming days, with the chance of an approved spot Bitcoin ETF in the US becoming slimmer in 2023.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	10
People	Gary Gensler, four members of Congress, James Seyffart
Companies	Fidelity, 21Shares, US Securities and Exchange Commission (SEC), VanEck, Invesco, Bitwise, BlackRock, ARK Invest, Global X, Valkyrie, WisdomTree
Currencies	Ethereum, Bitcoin, Euro, US Dollar, British Pound
Securities	None