The bitcoin (BTC) rate fell by 4.5% in a day, dropping below $26,000, after the US Securities and Exchange Commission (SEC) postponed consideration of applications for ETFs. At the moment, the rate reached a local minimum at $25.6 thousand. The Ethereum (ETH) rate at 10:45 Moscow time on September 1 is $1.6 thousand, over the past 24 hours the cryptocurrency rate has fallen by 3.5%, according to data Coingecko, writes RBC Crypto.
On August 31, the SEC delayed until October a decision on all applications for spot bitcoin ETFs, in particular from BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital. The new regulator review deadline for Wise Origin, Galaxy and WisdomTree is October 17, and for Valkyrie two days later. Bitwise now has a deadline of October 16th. clarifies Coindesk.
In August, the SEC began reviewing the latest list of filings from both cryptocurrencies and traditional financial companies such as Wise Origin, BlackRock and Invesco Galaxy. The applicants believe that the spot bitcoin ETF will increase retail investment in the first cryptocurrency and save investors from the problems associated with registering wallets or having to buy BTC directly, the newspaper writes.
On August 29, the bitcoin exchange rate exceeded $28,000 after the victory of Grayscale in a lawsuit against the SEC in the ETF launch case.
Source: Cryptocurrency
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