SEC Bitcoin ETF Decision Deadline Approaches Amid Delay

Last updated: November 15, 2023 12:38 PM

Published 2023-11-15

The U.S. Securities and Exchange Commission’s (SEC) deadline to approve Bitcoin spot ETFs expires this week on November 17th.

This deadline applies to 12 pending applications for the creation of spot ETFs from issuers like Hashdex, Franklin, and Global X. If the SEC does not approve the applications by the deadline, they will enter a public comment period that could delay a final decision until January 2024.

According to market analyst Eric Seyffarth, the Hashdex, Franklin, and Global X ETF bids will likely be delayed past the November 17th deadline.

However, Seyffarth still believes there is a 90% chance that spot BTC ETFs will be approved before the next major deadline on January 10, 2024. On that date, the SEC must make a final decision on an application from Ark Invest.

Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyffart (@JSeyff) November 14, 2023

The long-awaited SEC approval of Bitcoin spot ETFs would be a major milestone for cryptocurrency adoption and could significantly impact Bitcoin’s price and mainstream legitimacy. For now, the crypto community anxiously awaits the SEC’s decision amid the approaching deadline.

Also Read: Canada Tops List Of Countries With Leading Spot Bitcoin ETFs

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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