The United States Securities and Exchange Commission (SEC) has extended the review of four Bitcoin Exchange Traded Funds (ETFs) by 45 days.
The approvals of four Bitcoin ETFs – Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF – were issued on November 21, August 12, November 12. and 24.12. postponed.
In its official statement, the SEC demonstrate:
“The Committee recognizes that a longer period of time should be established within which any proposed or commented rule changes can be taken into account.”
In mid-September, the US investment firm Invesco teamed up with New York’s Galaxy Digital Funds to launch a Bitcoin ETF called Invesco Galaxy. Approval is pending, but if approved, this fund has the potential to be listed on the US national stock exchanges, with a guarantee that all private keys are strictly protected by a myriad of technical and physical measures.
It is widely speculated that the initial launch of the Bitcoin ETF will increase the asset’s technical indicators as a large number of traditional investors enter the market. Data from iShares shows that the total value of global commodity exchange traded products (ETPs) is currently $ 263 billion, and if mutual funds are included, the figure could be closer to $ 500 billion.
Bloomberg ETF analysts recently predicted the SEC could approve a fund by the end of October, highlighting ProShares’ Bitcoin futures ETF as the most likely candidate.
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According to Cointelegraph