In the face of a potential government shutdown, the U.S. Securities and Exchange Commission (SEC) has decided to defer its ruling on spot Bitcoin exchange-traded funds (ETFs) proposals from leading firms.
The SEC has pushed back its decision on spot Bitcoin ETF applications from BlackRock, Invesco, and Bitwise, on Wednesday. Intriguingly, this announcement came two weeks prior to the projected second deadline in mid-October.
James Seyffart, a Bloomberg ETF analyst, has suggested that other firms, including Fidelity, VanEck, and WisdomTree, might encounter similar delays.
The deferment coincides with the possible U.S. government shutdown on Oct. 1, which has the potential to cause disturbances in financial regulators and other federal agencies. As the House and Senate have yet to agree on the necessary funding bills to keep government operations running, the deadline is imminent.
It’s worth noting that this isn’t the SEC’s first time delaying decisions on spot Bitcoin ETFs. Similar postponements were observed in late August as the first deadline neared. The third set of deadlines is due for mid-January, and additional delays are plausible. The SEC is projected to make a final decision at the latest by mid-March.