The United States Securities and Exchange Commission (SEC) extended four Bitcoin ETFs on October 1 by 45 days, citing the request for more time to decide whether to accept applications from institutions. or not.
Specifically, the approval of four Bitcoin ETFs is Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF were rescheduled for November 21, December 8, December 11, and December 24 respectively. In its official statement, the SEC stated:
“The Commission recognizes that a longer period of time for action should be specified on the proposed rules to allow sufficient time to review and reach a final conclusion.”
Bloomberg analysts recently predicted that the SEC could approve a Bitcoin ETF by the end of October, predicting a BTC price of $100,000 this year. In addition, Bloomberg highlights ProShares Bitcoin ETF futures as the most likely candidate.
– See more: Gary Gensler Reiterates Support for Bitcoin Exchange-Traded Funds – Will SEC “Open” to Bitcoin ETFs?
Currently, the SEC is reviewing nearly 20 ETF filings for Bitcoin, Bitcoin futures, Ethereum ETFs, and Ether futures products and has yet to have an approved ETF on U.S. soil. And this is not the first time the SEC has delayed its decision on ETFs. 2018 is a prime example where renewals happen regularly, the latest being in May for the VanEck Bitcoin ETF.
However, with the gentle moves of SEC Chairman Gary Gensler regarding his statements about the ETF, we can still fully hope and wait for a Bitcoin ETF to be approved for the first time in the United States, opening create a brighter future for Bitcoin in particular as well as the cryptocurrency market in general.
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