The SEC has also deferred the submissions from Invesco, Bitwise, and Valkyrie.
There is a possibility that the applications from Fidelity, VanEck, and WisdomTree could face delays as well.
Due to the forthcoming U.S. government shutdown, the SEC has deferred its decision regarding multiple proposals for spot Bitcoin ETFs, including one from BlackRock.
Distinct submissions made on September 28 reveal that the SEC has likewise rescheduled the reviews of applications by Invesco, Bitwise, and Valkyrie for spot Bitcoin ETFs. Bloomberg’s ETF analyst, James Seyffart, predicts that the applications from Fidelity, VanEck, and WisdomTree will likely encounter similar delays.
Due to BlackRock’s extensive influence in various U.S. and international sectors, both the cryptocurrency community and financial experts were in unanimous agreement that it would secure ETF approval more swiftly than any other submission.
The U.S. SEC has requested an extension to further assess the proposed rule modification, resulting in the delay of ARK Invest 21Shares. The SEC has advanced the previous deadline of November 11, 2023. Notably, Franklin Templeton, another asset management firm, has recently submitted an application to list a spot exchange-traded fund (ETF).
On September 30, 2023, Valkyrie is set to become the inaugural company in the United States to offer exposure to Ethereum futures through its Bitcoin and Ether Strategy ETF. Bloomberg analyst Eric Balchunas has additionally mentioned that two other companies are preparing to introduce futures ETFs, contingent upon SEC approval prior to October 1, which coincides with the potential onset of a government shutdown in the United States.
The possibility of a government shutdown looms if the House and Senate fail to reach a consensus on a comprehensive set of 12 full-year funding bills before October 1.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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