New Sec, the same story. US SEC shifts decisions about four Bitcoin ETF applications until the end of the year
New Sec, the same story. US SEC shifts decisions about four Bitcoin ETF applications until the end of the year
The United States Sec has postponed the decisions about four Bitcoin ETF applications, whereby the crypto community is now used to making the regulatory authority such steps
SEC shifts decisions on four Bitcoin ETF suggestions
The United States Securities and Exchange Commission (SEC) announced at the weekend that by the end of the year they will not make any decisions about four Bitcoin Exchange Traded Funds (ETF) applications.
The cryptocurrency community was optimistic that the US SEC under the leadership of Gary Gensler would see cryptocurrencies positively and at least approved a Bitcoin ETF. This optimism is the reason why numerous investment companies have submitted Bitcoin and Ether ETF suggestions to the SEC in recent months.
However, it didn't work out as crypto enthusiasts expected. The regulatory authority still has to approve a single crypto ETF application, and Gensler is working hard to regulate the wider cryptocurrency area.
die sec, again, postponed its decisions to four bitcoin-et applications. The decision -making period of the applications from Global X, Valkyrie, Wisdomtree and Kryptoin was postponed to November 21, December 8, December 11 and December 24. The SEC had previously extended its review period for Valkyrie, Wisdomtree and Kryptoin.
The regulatory authority has the habit of extending the review period of the Bitcoin ETF applications before it finally rejects them. According to the SEC, it considers it reasonable to determine a longer period of time to check the Bitcoin ETF applications before deciding on its approval or rejection.
Gensler prefers a Bitcoin futures ETF
Gary Gensler, the chairman of the SEC, said on numerous occasions that He prefers an ETF that follows Bitcoin's investment products and not the spot price of the cryptocurrency. He complained that there is still an element of price manipulation in the cryptocurrency room, which makes a Bitcoin ETF quite risky for investors.
Nevertheless, the SEC still has to check or approve the proposals for Bitcoin futures ETFs lying on your table. Bitcoin's price has fallen by less than 1% in the last 24 hours, but is still traded over $ 47,000. The wider cryptocurrency market recovered at the weekend and could increase higher in the coming hours and days.