SEC Delays Decision on Bitcoin ETF Applications from BlackRock, Invesco and Bitwise

SEC Delays Decision on Bitcoin ETF Applications from BlackRock, Invesco and Bitwise

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Cryptonews News SEC Delays Decision on Bitcoin ETF Applications from BlackRock, Invesco and Bitwise
Sep 29, 2023 12:40 AM EDT · 1 min read

Jai Pratap
@jai-pratap
m
SEC Delays Decision on Bitcoin ETF Applications from BlackRock, Invesco and Bitwise

Source: AdobeStock / Andriy Blokhin
The United States Securities and Exchange Commission (SEC) has once again postponed its decision on several proposals for spot Bitcoin exchange-traded funds (ETFs), including applications from financial giants BlackRock and Invesco, as well as the cryptocurrency-focused Bitwise.

As per several filings on September 28, these delays have come earlier than expected, surprising many applicants who had been anticipating responses from the securities regulator between October 16 and 19.

The timing of these delays is closely tied to the looming threat of a U.S. government shutdown, which could potentially occur on October 1 if Congress fails to agree on various funding bills for government operations.

Currently, Congress must pass 12 separate full-year funding bills by the end of September to avert this shutdown. The potential shutdown would disrupt the functioning of various federal agencies, including financial regulators like the SEC.