The U.S. Securities and Exchange Commission (SEC) has postponed decisions on spot bitcoin ETF applications from Franklin Templeton and Global X, according to a recently issued notice.
The SEC’s deadline to act on Franklin Templeton’s application was due today, and for Global X’s proposal was slated for November 21. These delays push the new deadlines into early 2024.
The SEC’s move was not unexpected, as few had anticipated any spot bitcoin ETF approvals this week. Bitcoin (BTC) is currently trading at $36,450, registering a modest increase for the day.
The news of the SEC’s delay also included Franklin Templeton, which was added to the story later.
The SEC’s decision on these ETFs is now anticipated to come in early 2024.