SEC Postpones Decision on Another Bitcoin ETF Rule Amendment

SEC Postpones Decision on Another Bitcoin ETF Rule Amendment

Share Post:

Yello Paradisers! This week, the U.S. Securities and Exchange Commission (SEC) has been busy extending deadlines on several crucial cryptocurrency exchange-traded fund (ETF) rule changes. The latest delay involves the Global X Bitcoin Trust 19b-4 rule change, following a pattern of postponements for both Bitcoin and Ethereum spot ETF rule changes.

📰 Global X Bitcoin Trust Rule Change Delay

The SEC’s decision to delay the Global X Bitcoin Trust 19b-4 rule change, expected on Nov. 21, opens up a 35-day comment period post its publication in the Federal Register. This decision mirrors the Commission’s cautious approach, which has been consistent in their handling of cryptocurrency ETF applications.

📰 Analysts’ Take on the Delays

Bloomberg analysts have been closely following these developments. James Seyffart noted the predictability of this delay, while Eric Balchunas highlighted the SEC’s advisory for ETFs to opt for cash creations instead of in-kind. Balchunas views this approach as logical for such funds, indicating that it’s a positive, albeit expected, development.

📰 Grayscale and Hashdex Also Facing Delays

Grayscale’s Ethereum ETF rule change and Hashdex’s Ethereum and Bitcoin ETF proposals have also been postponed this week. These delays are part of a broader trend of the SEC taking a measured and cautious stance when it comes to approving cryptocurrency ETFs.

📰 BlackRock’s Entry into Ethereum ETF Arena

Adding to the ETF narrative, BlackRock has recently filed an S-1 for a spot Ethereum ETF, following its 19b-4 filing last week. This move by the world’s largest asset manager signifies the growing interest and potential in cryptocurrency ETFs, despite the SEC’s ongoing reservations.

📰 Conclusion: A Week of Watchful Waiting in Crypto ETF Space

This week’s series of delays by the SEC illustrates the intricate and cautious approach being taken towards cryptocurrency ETFs. As the regulatory landscape continues to evolve, the crypto community remains in a state of watchful waiting, eager to see how these ETF proposals will ultimately fare.

📰 Stay Informed with MyCryptoParadise

Keep up with the latest developments in the world of cryptocurrency ETFs with MyCryptoParadise. We provide timely updates and insights, helping you navigate the complex and ever-changing crypto market. 🌴

Notify of

Inline Feedbacks
View all comments

Recent Articles

Follow Us

Start earning Profit

We aim to provide our ParadiseMembers with as much information as we can to ensure to maximize long-term profit, no matter if we are in a bullish or bearish market. We are a large scale cryptocurrency community providing you with access to some of the most exclusive life changing cryptocurrency signals, analysis, guidance and much more Trade crypto like a pro
Dark Mode