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News

US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

August 29, 2023 - Around 2 mins mins to read

Key Points:

  • Bitwise, BlackRock, VanEck, WisdomTree, and Invesco’s Bitcoin ETF applications face approval, rejection, or delay.
  • Bitwise’s proposal under review on Friday, others next day, SEC aims for week’s end conclusion.
  • SEC’s track record includes postponements and denials, raising uncertainties for crypto ETF hopefuls.
US Securities and Exchange Commission is poised to deliver its verdict on the eagerly awaited Bitcoin exchange-traded fund (ETF) registration applications.
US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

This decision, anticipated to be unveiled by the end of the week, holds significant implications for major players such as Bitwise, BlackRock, VanEck, WisdomTree, and Invesco.

The regulatory body possesses the authority to greenlight, reject, or postpone these applications, signifying a critical moment for the crypto industry. The evaluation process is scheduled to commence with Bitwise’s proposal on Friday, followed by the scrutiny of others the subsequent day. This strategically timed assessment ensures that the SEC has a comprehensive overview before the week draws to a close.

US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

However, the history with crypto ETF applications has been a blend of postponements, denials, and occasional approvals. Recent events have seen the regulator defer the decision on spot Bitcoin ETF applications from 21Shares and ARK Investment Management. This move echoes previous instances where multiple filings have faced setbacks over the last decade.

Roxanna Islam, Associate Director of Research and Head of Sector and Industry Research at VettaFi, noted, “We can expect the SEC to delay more applications, especially after they’ve been released.” These delays indicate that the road to a Bitcoin ETF approval remains fraught with uncertainties.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin ETF

SEC

US sec

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

Key Points:

  • Bitwise, BlackRock, VanEck, WisdomTree, and Invesco’s Bitcoin ETF applications face approval, rejection, or delay.
  • Bitwise’s proposal under review on Friday, others next day, SEC aims for week’s end conclusion.
  • SEC’s track record includes postponements and denials, raising uncertainties for crypto ETF hopefuls.
US Securities and Exchange Commission is poised to deliver its verdict on the eagerly awaited Bitcoin exchange-traded fund (ETF) registration applications.
US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

This decision, anticipated to be unveiled by the end of the week, holds significant implications for major players such as Bitwise, BlackRock, VanEck, WisdomTree, and Invesco.

The regulatory body possesses the authority to greenlight, reject, or postpone these applications, signifying a critical moment for the crypto industry. The evaluation process is scheduled to commence with Bitwise’s proposal on Friday, followed by the scrutiny of others the subsequent day. This strategically timed assessment ensures that the SEC has a comprehensive overview before the week draws to a close.

US SEC Expanding Bitcoin ETF Reviews for the Week Ahead

However, the history with crypto ETF applications has been a blend of postponements, denials, and occasional approvals. Recent events have seen the regulator defer the decision on spot Bitcoin ETF applications from 21Shares and ARK Investment Management. This move echoes previous instances where multiple filings have faced setbacks over the last decade.

Roxanna Islam, Associate Director of Research and Head of Sector and Industry Research at VettaFi, noted, “We can expect the SEC to delay more applications, especially after they’ve been released.” These delays indicate that the road to a Bitcoin ETF approval remains fraught with uncertainties.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.