SEC extends the deadline for four Bitcoin ETFs by 45 days

The US Securities and Exchange Commission (SEC) has extended the deadline for the four Bitcoin exchange-traded funds (ETF) on Friday by 45 days, citing the need for more time to decide whether to accept 19b-4 applications.

The approval dates of the four Bitcoin ETFs-Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF have been rescheduled on November 21, December 8, and December 11, respectively , December 24.

In their official statement, the SEC Overview:

“The committee believes that it is appropriate to assign a longer period of time to take action on the proposed rule change, so as to allow sufficient time to consider the proposed rule change and any comments.”

In mid-September, Invesco, an investment company based in the United States, joined forces with Galaxy Digital Funds in New York. Submit a Bitcoin ETF called Invesco GalaxyCurrently awaiting approval, ETF securities products may be listed on the National Exchange of the United States, and potential customers guarantee that all private keys will be strictly protected by a variety of technical and physical deterrence measures.

Related: 3 reasons why Bitcoin ETF approval will change the price of BTC

It is widely expected that with the influx of traditional investors into the market, the first Bitcoin EFT launched by the SEC will improve the technical indicators of the asset.Data from iShares show The total value of products traded on global commodity exchanges is equivalent to 263 billion U.S. dollars, but this figure is still lower than all mutual funds that may be worth close to 500 billion U.S. dollars.

Bloomberg ETF analysts recently Expected The SEC may approve the Bitcoin ETF before the end of October, indicating that ProShares’ Bitcoin futures ETF is the most likely candidate. The two also suggested that regulators “allow more than one at a time to avoid distributing first-mover advantages.”