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{"id":5496,"date":"2023-09-27T08:31:12","date_gmt":"2023-09-27T08:31:12","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=5496"},"modified":"2023-09-27T08:31:14","modified_gmt":"2023-09-27T08:31:14","slug":"breaking-sec-delays-bitcoin-etf-decision-again","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/breaking-sec-delays-bitcoin-etf-decision-again\/","title":{"rendered":"Breaking: SEC Delays Bitcoin ETF Decision Again!"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">The Wait Continues<\/h2>\n\n\n\n<p>The US Securities and Exchange Commission (SEC) has once again deferred its decision on the spot Bitcoin ETF applications submitted by ARK Invest and 21Shares and Global X. The decision for the ARK 21Shares application has been postponed to January 2024. This move by the SEC has sparked speculations of potential further delays for similar applications from other firms, suggesting that stakeholders might have to extend their patience until next year for an approval.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Delving into the Details<\/h2>\n\n\n\n<p>On September 26, the SEC released a letter stating its decision to extend the review period for the ARK 21Shares spot Bitcoin ETF application by an additional 60 days. This means the final verdict on the proposal is now set for January 10, 2024. Previously, the SEC had delayed its response to this proposal on August 11, aiming to gather more public feedback. This latest extension now totals the SEC&#8217;s review period to 240 days, which is the maximum duration permitted for the regulator to either approve or decline an application. Additionally, the decision for the Global X Bitcoin Trust has been pushed to November 21, 2023. Bloomberg ETF analyst, James Seyffart, pointed out that these extensions by the SEC occurred sooner than expected, hinting that the early decision might be influenced by an impending US government shutdown.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">UPDATE: Wow. The SEC just came out SUPER early and delayed the <a href=\"https:\/\/twitter.com\/ARKInvest?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@ARKInvest<\/a> \/ <a href=\"https:\/\/twitter.com\/21Shares?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@21Shares<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#Bitcoin<\/a> ETF filing. This thing wasn&#39;t due for a decision until Nov 11. <br><br>Also delaying the <a href=\"https:\/\/twitter.com\/GlobalXETFs?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@GlobalXETFs<\/a> application which was due Oct 7. <a href=\"https:\/\/t.co\/7DiBq1h4Ef\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/7DiBq1h4Ef<\/a><\/p>&mdash; James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1706771264596050073?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">September 26, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">A Personal Take on the Matter<\/h2>\n\n\n\n<p>From my point of view, the SEC&#8217;s repeated postponements reflect a cautious approach towards the rapidly evolving cryptocurrency market. While the demand for a spot Bitcoin ETF in the US is evident, the regulatory body seems to be treading carefully, ensuring all potential risks are assessed. On the positive side, this meticulous review process might lead to a more robust and secure financial product for investors. However, the downside is the prolonged uncertainty it creates for stakeholders eagerly awaiting a decision. The recent call from four Congress members urging the SEC&#8217;s Chairman, Gary Gensler, to promptly approve the spot Bitcoin ETF listing highlights the growing impatience and demand for clarity in this domain. As I see it, while delays can be frustrating, they might be necessary for ensuring a well-regulated and stable financial environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wait Continues The US Securities and Exchange Commission (SEC) has once again deferred its decision on the spot Bitcoin ETF applications submitted by ARK Invest and 21Shares and Global X. The decision for the ARK 21Shares application has been postponed to January 2024. This move by the SEC has sparked speculations of potential further [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[53,54],"tags":[],"class_list":["post-5496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-crypto"],"_links":{"self":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/comments?post=5496"}],"version-history":[{"count":1,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5496\/revisions"}],"predecessor-version":[{"id":5509,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5496\/revisions\/5509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media\/5497"}],"wp:attachment":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media?parent=5496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/categories?post=5496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/tags?post=5496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}