BlockchainUS Bitcoin ETF looming, but SEC drags its feet

US Bitcoin ETF looming, but SEC drags its feet

The wait for a Bitcoin ETF to be approved by the Securities and Exchange Commission (SEC) has been so long that it has become a subject of joke based on eternity in the cryptosphere. Yet other countries like Canada have already validated BTC ETFs . But this time around, literally crumbling under the number of ETF applications, the SEC may well have no other choice but to give in.

4 Bitcoin ETF applications postponed, but not for much longer

Since the approval of the first Bitcoin derivatives in December 2017 , namely the CME and CBOE futures contracts , the cryptosphere has been anxiously awaiting the approval of a first Bitcoin ETF by the US SEC.

These exchange-traded funds are indeed among the most liquid financial products of the traditional stock exchanges, very easily exchangeable. ETFs replicate the price of an underlying asset – in this instance, Bitcoin.

As reported by Cointelegraph in particular, the SEC has once again played time with 4 ETF proposals. In recent days, the US financial policeman has thus postponed its decision-making for another 45 days for the following requests:

  • The Global X Bitcoin Trust ETF ;
  • The Valkyrie XBTO Bitcoin Futures Fund ;
  • The WisdomTree Bitcoin Trust ;
  • The Kryptoin Bitcoin ETF .

The SEC will soon have to say yes (or no) to a Bitcoin ETF

However, there is good news after these tiring and usual postponements. The “decision-making” body (with big quotes) has postponed its response so much for some long-filed ETFs that the final decision date is inevitably approaching.

Indeed, no less than 4 Bitcoin ETF applications will finally know what the SEC decides by early 2022. As summarized in the diagram below produced by Arcane Research, the first of them (if it is not has not died of old age in the meantime) will be VanEck’s Bitcoin ETF , for which the final decision is due on November 14, 2021 .

Bitcoin will follow quickly WisdomTree Trust, the Trust and the Kryptoin Bitcoin, Valkyrie Bitcoin Fund, for which final decisions are respectively the 5 December , the 18 December and 1 January 2022 .

And as if that were not enough, 2 other decisions with no further possible postponement are also expected at the start of the year, precisely for January 16 and 20, 2022 .

If the approval of a first Bitcoin ETF by the US SEC is becoming so important, it is also because institutional investors have never had so much appetite for Bitcoin and cryptocurrencies. Indeed, in a recent survey, these very wealthy investors are 62% to say that they are ready to invest for the first time in crypto-assets in 2022 .

Florent Malice
Florent Malicehttps://www.newsalarms.com/
Florent is a passionate blockchain enthusiast, dedicated to exploring the intersection of technology and finance. With a focus on blockchain, web crypto, and NFTs, he contributes insightful analyses and updates to NewsAlarms, offering clarity on the evolving landscape of digital assets.

Latest news

Berachain Ignites a New Era in Blockchain Innovation

The Future of Berachain: A New Horizon for Blockchain Innovation Introduction In the rapidly evolving blockchain landscape, Berachain is emerging as...

Musk Empire Game Hits 13 Million User Milestone on Telegram

Musk Empire: The Tap-to-Earn Game Surpassing 13 Million Users What is The Musk Empire? Musk Empire is a groundbreaking tap-to-earn game...

Get Ready for TapSwap TGE and Coin Listing – Coming Soon!

TapSwap Coin Listing and TGE: A Strategic Approach What is TapSwap? TapSwap is an engaging tap-to-earn game available on Telegram's mini-apps...

Bitcoin, Ethereum, and Altcoins Begin the Day with Losses: What Caused the Drop?

Bitcoin and altcoins started this morning with a decline. BTC generally hovered around $66,000 during the day until it...

Boost Your Wallet Daily with Musk Empire Investment Code – July 24, 2024

Unlock Musk Empire’s Daily Combo Code – July 24, 2024 What is Musk Empire? Musk Empire is a rapidly growing tap-to-earn...

Catizen Surges Forward with Binance Labs Backing

Catizen: The Rising Star in Gaming Pluto Studio, the developer behind the popular Telegram game Catizen, has recently obtained funding...

Must read

Berachain Ignites a New Era in Blockchain Innovation

The Future of Berachain: A New Horizon for Blockchain...

Musk Empire Game Hits 13 Million User Milestone on Telegram

Musk Empire: The Tap-to-Earn Game Surpassing 13 Million Users What...

Get Ready for TapSwap TGE and Coin Listing – Coming Soon!

TapSwap Coin Listing and TGE: A Strategic Approach What is...

Bitcoin, Ethereum, and Altcoins Begin the Day with Losses: What Caused the Drop?

Bitcoin and altcoins started this morning with a decline....

Boost Your Wallet Daily with Musk Empire Investment Code – July 24, 2024

Unlock Musk Empire’s Daily Combo Code – July 24,...

You might also like
Recommended to you