The United States securities regulator has delayed the decision on several spot Bitcoin exchange-traded fund (ETF) proposals, including BlackRock, ahead of an anticipated government shutdown.
Invesco, Bitwise and Valkyrie are the other three firms that were hit with delays by the Securities Exchange Commission in separate Sept. 28 filings.
Bloomberg ETF analyst James Seyffart is also expecting the applicants of Fidelity, VanEck and WidsomTree to be pushed back by the securities regulator.
— James Seyffart (@JSeyff) September 28, 2023
The latest delays by the SEC come two weeks ahead of the second deadline for many applicants who were expecting to hear from the securities regulator by Oct. 16-19.
The U.S. Government is looking at a potential “shutdown” on Oct. 1 as both chambers of Congress — the House and Senate — haven’t agreed on various funding bills to finance government operations.
Related: Bitcoin ETFs or not, don’t expect a ‘sexy’ crypto bull run — Concordium founder
The SEC previously delayed a bundle of spot Bitcoin ETF applicants past the first deadline in early September.
Meanwhile, the third set of deadlines for the seven firms is around mid-January, which could also be delayed. The SEC will have to make a final decision by mid-March at the very latest.
This is a developing story, and further information will be added as it becomes available.
Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in