SEC Delays Bitcoin ETF Proposals From Blackrock, Valkyrie

The Securities and Exchange Commission (SEC) has decided to again postpone its decisions on several Bitcoin ETF proposals, including those submitted by BlackRock and Valkyrie.

What Happened: As reported by Blockworks, the SEC has delayed its decisions on a number of Bitcoin BTC/USD ETF proposals. This announcement comes following previous delays on decisions for Ark 21Shares and GlobalX until January 2023.

These postponements primarily impact Bitcoin ETF applications from BlackRock, Valkyrie, and Bitwise. The SEC’s initial decision to delay was announced on Aug. 31, and it has also decided to postpone Hashdex’s Bitcoin ETF, which was expected around Oct. 6.

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BlackRock’s application for a Bitcoin ETF is particularly anticipated. The asset management company, which manages $9 trillion, has an impressive approval record with the SEC. As reported by Bloomberg’s Eric Balchunas and Seyffart, the record is approximately 575-1.

Before these delays, many ETF applicants were expecting decisions by mid-October. However, as previously reported by Blockworks, the SEC can defer its decisions until the end of the 240-day deadlines.

Despite these postponements, the SEC is continuing to push forward with Ethereum futures ETFs.

Why It Matters: Valkyrie Investments on Thursday becomes the first out of nine ETF issuers to secure approval from the Securities and Exchange Commission (SEC) for an ETF that enables investors to speculate on the future price of Ethereum ETH/USD.

Photo by Tomasz Makowski on Shutterstock

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