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Posted:
- SEC Delayed Decision on Approving Blackrock’s Spot Bitcoin ETF Application
- The next update on the application would follow in October 2023
The US Securities and Exchanges Commission [SEC] has delayed making a decision about Blackrock’s Bitcoin Exchange Traded Fund [ETF] application. The company is the latest in the series of delays announced today. And with this move, Blackrock would now have to wait until October 2023 for the SEC to make a decision.
The investment management giant filed for a spot Bitcoin ETF on June 15, with Coinbase joining the plan as a custodian. The company was one of the first to apply for a spot Bitcoin ETF this year, followed by other companies. In addition, the company’s CEO – Larry Fink – claimed that a Bitcoin ETF mockery would “democratize” crypto.
Notably, the Securities Commission has announced that it has deferred judgment on other spot Bitcoin ETF filings. This includes Fidelity Wise Origin Bitcoin Trust, Invesco Galaxy Bitcoin ETF, Valkyrie Bitcoin fund, VanEck Bitcoin Trust, and WisdomTree Bitcoin Trust.
The story is still developing…