The SEC will postpone its decision on three Bitcoin spot ETF applications submitted by WisdomTree, Valkyrie, and Invesco. The SEC believes that more time is needed to determine the fate of these Bitcoin spot ETF applications, and the decision has been postponed to mid-October.
“The Commission believes that providing a longer period for approval is appropriate, allowing us sufficient time to consider the proposed rules and address any issues therein,” stated the SEC. Furthermore, the SEC did not specify the exact reasons for the delay.
Previously, it was reported that the SEC was expected to respond to a series of Bitcoin spot ETF applications by the end of this week.
In addition, FOX reporter Eleanor Terrett posted on the X platform that Bitwise has requested the withdrawal of its initial application for the Bitwise Bitcoin and Ether Equal Weight Strategy ETF, which was submitted on August 3rd. This fund aimed to provide investors with market-cap-weighted exposure to BTC and ETH futures contracts.