The U.S. Securities and Exchange Commission (SEC) has extended the decision period for two spot Bitcoin Exchange Traded Funds (ETFs). The first filing is for GlobalX’s spot Bitcoin ETF, which was submitted on August 4 and published for comment on August 23. The SEC will now have until February 2024 to approve or reject the application. The second filing is for Franklin Templeton’s spot Bitcoin ETF, which was submitted on September 26 and published for comment on October 3. The SEC will have until January 1, 2024, to make a decision on this application. The SEC has not officially referred to these extensions as delays, but rather as an opportunity to gather input on market manipulation and surveillance-sharing agreements, which have been longstanding concerns around spot Bitcoin ETFs. Various other applicants have also been asked to provide similar information. While there is a chance that the SEC may reject some proposals, experts estimate a 90% chance of an ETF approval by January 2024.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	1
People	Cathie Wood
Companies	Franklin Templeton, BlackRock, Global X, ARK Invest, Cboe BZX Exchange
Currencies	Bitcoin
Securities	None