SEC’s Reluctance on Bitcoin ETFs Dims Hope for 2023 Approval
The potential for a Bitcoin Exchange-Trust Fund ( ETF ) getting the green light this year took a hit with revelations that the U.S. Securities and Exchange Commission ( SEC ) might abstain from such endorsements. In a recent post, Bloomberg’s seasoned analyst, James Seffyat, shed light on this. He emphasized that recent SEC activities hint at no forthcoming ETF approvals 2023. Particularly concerning to observers was the SEC’s decision to bypass pending second deadlines and postpone the ARK 21Shares ETF filing. This move, Seffyat speculates, signals the likelihood of the SEC stalling all forthcoming filings. Major ETF filings from BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity, and Valkyrie are slated for October deliberation. Pondering the reasoning behind the SEC ’s early delay, Seffyat posits two possibilities. The impending U.S. Federal Government shutdown might prompt the SEC to clear its slate. With an anticipated furlough affecting 90% of the SE...