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BlackRock, Invesco, and Bitwise face delay in SEC's decision on spot Bitcoin ETF

BlackRock, Invesco, and Bitwise face delay in SEC’s decision on spot Bitcoin ETF

– The U.S. Securities and Exchange Commission has delayed its decision on several proposals for spot Bitcoin exchange-traded funds (ETFs), including BlackRock, Invesco, Bitwise, and Valkyrie.

– The delays are related to the anticipated government shutdown, which could disrupt the country’s financial regulators and federal agencies.

– The SEC previously delayed a bundle of spot Bitcoin ETF applicants in late August.

– The third set of deadlines for the seven firms is around mid-January, but they could also be delayed.

– Bloomberg ETF analyst Eric Balchunas estimated that the probability of a spot Bitcoin ETF being approved by the end of 2023 had increased to 75%.

– Balchunas further raised those odds to 95% by the end of 2024.

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