The US Securities and Exchange Commission (SEC) has deferred a decision on applications for registration of spot Bitcoin ETFs from Franklin Templeton And Global X. The next interim deadline for them is December 2023.
As in previous cases, the SEC cited a “lack of transparency” as well as a high risk of market manipulation as justification for another postponement.
The Commission has until March-April 2024 to give a final decision on these cases. The regulator also postponed Hashdex’s application to convert a Bitcoin futures ETF into a spot ETF.
It is noteworthy that Matrixport and JPMorgan Chase experts are confident that the SEC will nevertheless approve a new class of exchange-traded funds, and in the coming months.
Against the backdrop of the news, Bitcoin maintained its position. At the time of writing, the asset is trading around $37,190, according to TradingView.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
