The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision on the ETF filings by HashDex and Grayscale.
The SEC has postponed its decision on HashDex’s proposal to convert a Bitcoin futures exchange into a Spot ETF. Similarly, the decision on Grayscale’s Ethereum futures ETF has been deferred.
Both filings, made in September, had a deadline of November 17. The SEC, however, has decided to extend this timeframe, as per the updated filings.
The delay comes amidst growing anticipation for a Spot Bitcoin ETF. The digital asset industry has been eagerly awaiting an SEC decision that could result in the first approval of such an ETF.
The SEC has also extended the deadline for its decision on HashDex’s Spot Bitcoin ETF application and Grayscale’s Ether futures ETF filing. Both faced a November 17 deadline, now extended by the SEC, according to the filings.
So far, the SEC has rejected all attempts at a Bitcoin ETF. Despite this, the industry expects this trend to change going into 2024. Since the beginning of the year, over a dozen applications have been submitted, including from traditional finance giants like BlackRock and Fidelity.
Past SEC rejections have cited potential market manipulation. However, many current applications have included measures to address this concern. The agency has yet to reveal how it will rule on the latest round of applications.
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