SEC extends 45 days to review Bitcoin ETF proposals

The United States Securities and Exchange Commission (SEC) has extended the review of four Bitcoin Exchange Traded Funds (ETFs) by 45 days.

The approvals of four Bitcoin ETFs – Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF – were issued on November 21, August 12, November 12. and 24.12. postponed.

In its official statement, the SEC demonstrate:

“The Committee recognizes that a longer period of time should be established within which any proposed or commented rule changes can be taken into account.”

In mid-September, the US investment firm Invesco teamed up with New York’s Galaxy Digital Funds to launch a Bitcoin ETF called Invesco Galaxy. Approval is pending, but if approved, this fund has the potential to be listed on the US national stock exchanges, with a guarantee that all private keys are strictly protected by a myriad of technical and physical measures.

It is widely speculated that the initial launch of the Bitcoin ETF will increase the asset’s technical indicators as a large number of traditional investors enter the market. Data from iShares shows that the total value of global commodity exchange traded products (ETPs) is currently $ 263 billion, and if mutual funds are included, the figure could be closer to $ 500 billion.

Bloomberg ETF analysts recently predicted the SEC could approve a fund by the end of October, highlighting ProShares’ Bitcoin futures ETF as the most likely candidate.

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Annie

According to Cointelegraph

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