Get the scoop on finance - sign up for mobile alerts
Regulators
| On
November 18, 2023

US SEC Delays Decisions on Multiple Bitcoin (BTC) and Ethereum (ETH) ETF Applications

By Mehron Rokhy

The U.S. Securities and Exchange Commission (SEC) is delaying its decisions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) applications until next year.

In new filings, the regulatory agency says that it will be delaying its decisions on applications filed by asset management firm Hashdex to create mixed spot and futures Ethereum ETF and convert a Bitcoin futures ETF into a spot market one.

ADVERTISEMENT

The SEC says it will also be pushing back its decision on crypto firm Grayscale’s bid for an ETH futures ETF.

In the statements, the SEC says that it needs more time to consider the proposed changes and is extending the original deadline of November 17th to January 1st, 2024.

“The Commission is extending [the] 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates January 1, 2024, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove, the proposed rule change.”

ADVERTISEMENT

According to the documents, all three applications were originally filed on October 3rd, 2023.

Earlier this week, BlackRock – the largest investment firm in the world with over $8 trillion in assets under its management – filed an application with the SEC to create a spot market Ethereum ETF.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney