SEC Delays Bitcoin ETF Proposals From Blackrock, Valkyrie
Portfolio Pulse from Benzinga Neuro
The Securities and Exchange Commission (SEC) has postponed decisions on several Bitcoin ETF proposals, including those from BlackRock and Valkyrie. This follows previous delays for Ark 21Shares and GlobalX until January 2023. Despite these delays, the SEC is pushing forward with Ethereum futures ETFs. Valkyrie Investments recently became the first of nine ETF issuers to secure SEC approval for an ETF that allows investors to speculate on the future price of Ethereum.
September 29, 2023 | 6:20 am
News sentiment analysis
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NEGATIVE IMPACT
The SEC's decision to delay several Bitcoin ETF proposals could create short-term uncertainty for Bitcoin.
The SEC's decision to delay several Bitcoin ETF proposals could create short-term uncertainty and potentially negative sentiment around Bitcoin, which could put downward pressure on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
BlackRock's Bitcoin ETF proposal has been delayed by the SEC. Despite this, BlackRock's impressive approval record with the SEC may suggest a positive outcome in the future.
The delay in the SEC's decision on BlackRock's Bitcoin ETF proposal creates uncertainty, which could lead to short-term volatility in BlackRock's stock. However, BlackRock's strong approval record with the SEC may suggest a positive outcome in the future, which could potentially boost the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Despite delays in Bitcoin ETF proposals, the SEC is pushing forward with Ethereum futures ETFs, which could be positive for Ethereum.
The SEC's decision to push forward with Ethereum futures ETFs, despite delays in Bitcoin ETF proposals, could create positive sentiment around Ethereum, which could put upward pressure on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100