SEC Delays Bitcoin ETF Approvals Yet Again, Cites Commitment To Safeguard Investors
Portfolio Pulse from Murtuza Merchant
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the approval of the nation's first Bitcoin-focused exchange-traded fund (ETF). The SEC's decision affects filings from major players like Invesco, Valkyrie, Fidelity, and WisdomTree. The SEC is also set to review an application from Bitwise and assess submissions from BlackRock and VanEck. This follows a recent court reversal of the SEC's dismissal of Grayscale Investments' bid to turn its Bitcoin trust into an ETF.
September 01, 2023 | 1:05 pm
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NEUTRAL IMPACT
BlackRock's submission for a Bitcoin ETF is under review by the SEC. The delay in approval could impact the company's plans in the crypto space.
The SEC's delay in approving Bitcoin ETFs affects BlackRock as its submission is under review. This could impact the company's plans and operations in the crypto space, but the exact impact is uncertain until the SEC makes its decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The delay in the approval of Bitcoin ETFs by the SEC could impact the price of Bitcoin. The approval of such ETFs could potentially increase demand for Bitcoin.
The SEC's decision to delay the approval of Bitcoin ETFs could impact the price of Bitcoin. If approved, these ETFs could potentially increase the demand for Bitcoin, which could drive up its price. However, the delay in approval creates uncertainty, which could have a negative impact on the price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100