SEC, Postpones ETF Decisions Again

Yunus Taşlı — Sat, 30 Sep 2023 09:12:49 +0000

The United States Securities and Exchange Commission (SEC) had postponed its ETF decisions to October 17 previously. However, due to the expected government shutdown this weekend, it announced ETF decisions earlier than planned.

The SEC has decided to postpone many ETF decisions again this week. It seems like the SEC’s decision process about ETFs will take a while longer. SEC Chairman Gary Gensler stated that Bitcoin is not a security and that they will not rush their decisions about ETFs, and they are reviewing in detail.

Companies Apply for Spot Bitcoin ETF

ETF applications have been made by many companies. Some of these are large companies such as BlackRock, Fidelity, Invesco & Galaxy, and 21Shares & ARK, which have applied for Spot Bitcoin ETF.

When we look at the table showing when the SEC has to make its final decision about these applications, we see that many ETFs will be concluded in 2024.

The total assets of companies that applied for ETF are over 23 trillion dollars. Also this shows us that if these ETFs are accepted, Bitcoin could become a much more preferred investment tool.

Companies With Postponed Spot Bitcoin ETF Applications

The SEC, due to the possibility of government closure this week, has decided to expedite the decision process and postpone many ETFs again.

ETF decisions postponed by SEC this week;

Announced postponement of ARK Invest’s spot Bitcoin ETF application.
Announced the postponement of Global X’s spot Bitcoin ETF application.
Announced postponing the decision on ARK 21Shares Ethereum Spot ETF.
Announced the postponement of Valkyrie’s spot Bitcoin ETF application.
Announced postponing Invesco and Bitwise’s spot Bitcoin ETF application.
Announced postponing Blackrock’s spot Bitcoin ETF application.
Announced the postponement of VanEck’s spot Bitcoin ETF application.
Announced postponing WisdomTree’s spot Bitcoin ETF application.
Announced postponing Fidelity’s spot Bitcoin ETF application.

Companies Applying for Spot Ethereum ETF

Companies applying for Spot Ethereum ETF include Fidelity, Invesco Galaxy, VanEck, Ark&21Shares and Hashdex. So far, the SEC has not approved any Spot Ethereum ETF.

This week, the SEC postponed VanEck and Ark&21Shares Spot Ethereum ETF applications

Companies Applying for Ethereum Futures ETF

Many companies have applied for Ethereum Futures ETF. These companies include Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, Grayscale and ARK Invest&21Shares. The SEC has so far only accepted the VanEck Ethereum Futures ETF decision.

It is expected that the SEC will accept the Proshares and Bitwise Ethereum Futures ETF decisions today. If the ETFs are accepted today, it is expected that the ETFs will be opened for trading next week.

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