TL; Fault DR
- The US Securities and Exchange Commission has extended four ETF bitcoin approval deadlines.
- Analysts expect the SEC to be ready to accept the Bitcoin ETF by the end of October.
On Friday, the US Securities and Exchange Commission (SEC) announced that it had decided to extend the deadline for four Bitcoin traded funds (BTCs) by 45 days. This claim requires additional time to decide whether to accept 19b-4 programs.
“The Commission recognizes that it is appropriate to set a longer period for it to proceed with the proposed amendment. Thus, there is sufficient time to consider the amendment and any comments,” the SEC said in a statement.
Previously, the rescheduling dates were November 21, December 8, December 11 and December 24 for the Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF, respectively.
Potential Securities and Exchange Commission BTC ETF
In September, Inusco, A well-known US investment company, announced a partnership with New York-based Galaxy Digital Funds to register a BTC ETF called Invesco Galaxy. The Securities and Exchange Commission wants to ensure that the ETF can be placed in US national trading exchanges, and that target users ensure that a combination of physical and technical solutions fully protects all private keys.
IShares data show that the total value of tradable goods is $ 263 billion, yet that reduces all mutual funds, which may approach $ 500 billion. According to experts, as the number of traditional investors entering the cryptocurrency market increases, the first Bitcoin ETF introduced by the SEC will open new doors to increase the technical indicators of assets.
Bitcoin ETF is the focus of many market analysts and traders. Bloomberg ETF analysts predict that by the end of this month, the SEC is ready to accept the Bitcoin ETF, and the most likely candidate is the future Bitcoin ESF ProShares. They also suggested that the regulator should simultaneously allow many of its extraordinary benefits to be guaranteed.