The United States Securities and Exchange Commission has delayed its decision on several proposals for spot Bitcoin (BTC) exchange-traded funds (ETFs), including\u00a0BlackRock,\u00a0ahead of an anticipated government shutdown.<\/p>\n
The spot Bitcoin ETF applications of\u00a0Invesco, Bitwise and Valkyrie\u00a0were also delayed by the SEC, according to separate Sept. 28 filings, while\u00a0Bloomberg ETF analyst James Seyffart is expecting the applications from Fidelity, VanEck and WidsomTree to also be pushed back by the securities regulator.<\/p>\n
Seyffart expected the delays due to a U.S. government \u201cshutdown\u201d potentially taking place on Oct. 1.<\/p>\n
Both chambers of Congress \u2014 the House and Senate \u2014 haven\u2019t agreed on various funding bills to finance government operations, which has put the short-term future of the U.S. government in jeopardy.<\/p>\n
Congress needs to pass 12 separate full-year funding bills by Oct. 1 to avoid a shutdown.<\/p>\n
The latest delays came two weeks earlier than the scheduled second deadline date for many applicants, many of whom were expecting to hear from the securities regulator by Oct. 16\u201319.<\/p>\n
The SEC delayed a bundle of spot Bitcoin ETF applicants in early September, when the first deadline was approaching.<\/p>\n
Meanwhile, the third set of deadlines for the seven firms is around mid-January, and they could also be delayed. The SEC will have to make a final decision by mid-March at the very latest. <\/p>\n