SEC Severely Delays Bitcoin ETF Approvals…

By Vince • August 16, 2023 1:39 pm • Comments

What are they so afraid of?

The Securities and Exchange Commission (SEC) has handed down bad news to hopefuls anticipating a spot Bitcoin ETF this year. …

According to multiple outlets, the SEC is delaying its decision on a Bitcoin ETF until ‘early’ 2024. …This can mean any time from January to March 2024.

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It also bears mentioning that there is no guarantee they will even approve the ETF applications—this is merely a time window for the SEC to deliver a decision on the applications.

Relative offered fuel for speculation: “The SEC’s decision to push Bitcoin ETF approval to 2024 casts a shadow of uncertainty on $BTC’s immediate future. Does this hint at a price dip on the horizon?”

 

Simply Bitcoin claims that we may wait until March 2024 for the Securities and Exchange Commission to return a decision on any of the pending Bitcoin ETF applications.

Coin Speaker reports:

It is worth noting that the SEC’s evaluation process for ETF applications can take up to 240 days, a timeline that has significant implications for companies seeking approval.

The decision on the ARK Bitcoin ETF, for instance, has been pushed to January 2024 due to this timeline.

For other contenders, decisions might not be rendered until March 2024. This extended timeline reflects the SEC’s careful approach and its dedication to ensuring thorough assessments.

Another user provided his price action analysis and prediction for Bitcoin’s price in response to the SEC’s delay in approving a Bitcoin ETF.

Coin Bureau writes: “Everyone has their eyes on the Bitcoin ETF applications in front of the SEC. But, all around the world, they aren’t waiting.”

 

According to Coin Market Cap:

The Securities and Exchange Commission (SEC) is not going to amend its position against allowing exchange-traded funds (ETFs) in Bitcoin spot markets, claims former SEC attorney John Reed Stark.

He cited a letter for the SEC’s approach to regulating the cryptocurrency market from Better Markets, a nonprofit organization with headquarters in Washington.

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