SEC Delays Decision for BlackRock Spot Bitcoin ETF

After a trio of Spot Bitcoin ETF applications were delayed early Thursday, the SEC will also delay a decision on BlackRock’s Spot Bitcoin ETF application.

The SEC delayed a decision on multiple Spot Bitcoin ETF applications, including Valkyrie, WisdomTree, and Invesco earlier today. After a Washington court overturned the SEC blocking Grayscale’s application earlier this week, many expect the SEC to delay other applications and appeal the court’s decision.

Also Read: SEC Delays Valkyrie, WisdomTree Spot Bitcoin ETF Applications

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” documents say in response to the BlackRock proposal.

After a trio of Spot Bitcoin ETF applications were delayed today, the SEC will also delay BlackRock's Spot Bitcoin ETF application.
Source: CryptoSlate

The SEC has yet to allow any Spot Bitcoin ETF to come to market. The filings say it would delay its ruling on the proposals by at least another 45 days. In addition to the four applications delayed today, the SEC has until September 1 to address an application by Bitwise. The regulator will also need to decide on filings from BlackRock, VanEck, and Fidelity soon.

The SEC’s decision to delay BlackRock’s Spot Bitcoin ETF comes the same week that Bitcoin has shot up in price. The leading cryptocurrency is up over 50% this year.

  • bitcoin
  • Blackrock
  • sec
  • spot bitcoin etf

Comments

Post a Comment

Popular posts from this blog

Bitcoin, Ethereum Technical Analysis: BTC Nears $17,000 Ahead of Christmas Day

Image
Bitcoin rose closer to the $17,000 level on Saturday, despite crypto markets mostly consolidating to start the week. The global cryptocurrency market cap is down 0.32% as of writing. Ethereum was also higher earlier in the day, with prices nearing the $1,230 level. Bitcoin Bitcoin (BTC) remained under the $17,000 level to start the weekend, as prices continued to consolidate despite earlier gains. BTC/USD hit a high of $16,905.22 earlier in today’s session, which comes a day after price was at a bottom, at the $16,793.53 mark. The move saw the world’s largest cryptocurrency continue to trade above a key point of support at $16,800. BTC/USD – Daily Chart As can be seen from the chart, earlier gains have somewhat eased, as the 14-day relative strength index (RSI) failed to break above a ceiling at 48.00. The index is currently trading at 46.72, with bulls still attempting to push past the aforementioned point of resistance. On the other hand, should price stre...
Read more

Bitcoin Leads $168 Million 'Smart-Money' Outflows

Image
According to a new report by CoinShares, the digital asset industry saw a whopping $168 million worth of out flows over the last week, with Bitcoin (BTC) leading the pack. This represented the highest out flows from the sector “since the US regulatory crackdown on exchanges in March 2023.” According to CoinShares, BTC was at the center of the out flows , with $149 million. Ethereum (ETH), on the other hand, saw out flows worth $16.8 million. On a month-to-date basis, Bitcoin saw out flows of $251.2 million, while Ethereum saw out flows of $29.8 million. The total out flows for the month of August now sit at $278 million. Meanwhile, XRP and Litecoin (LTC) saw minor in flows of $0.5 million and $0.44 million, respectively. Also Read: Argentina is Adopting Bitcoin Faster than El Salvador: Ark Invest However, the report noted that fund flows remain positive for BTC on a yearly basis, with $265 million. Source: CoinShares Additionally, CoinShares mentioned tha...
Read more

Kraken Persists With Plans to Launch Its Bank Despite Facing Regulatory Obstacles

Image
Join Our Telegram channel to stay up to date on breaking news coverage Kraken crypto exchange is still working on launching its bank, despite the challenging regulatory environment and the recent shutdown of its on-chain staking services for U.S customers The Securities and Exchange Commission (SEC) had accused Kraken of violating securities laws. Nonetheless, Kraken remains steadfast in its commitment to its plans. Kraken’s chief legal officer, Marco Santori, confirmed on The Scoop podcast with Frank Chaparro that the company is on track to launch its own bank. He also shared that Kraken plans to order thousands of pens with little ball chains and their logo to distribute to Wall Street banks. Despite obstacles, Kraken continues to move forward with its plans to establish its financial institution. #Kraken continues its plan to launch its own bank despite a difficult regulatory environment. "Kraken Bank is on track to launch very soon," said Marco Santori, Krak...
Read more