Sunday, July 25

Bitcoin ETF delay

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A bitcoin ETF may not be approved by the SEC until 2023 despite surging interest, according to a fund provider that’s already been through the process

Former Commodity Futures Trading Commission Chairman Gary Gensler testifying before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill on July 30, 2013. Photo by Chip Somodevilla/Getty Images The wait for an SEC approved bitcoin ETF might be longer than most think, according to one fund provider that's been through the approval process.William Cai of Wilshire Phoenix doesn't expect the SEC to approve a bitcoin ETF until 2022 or 2023. "A bitcoin ETF is not on his top priority list as far as we can see," Cai said, referring to SEC chief Gary Gensler.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Anticipation for a SEC-approved bitcoin ETF is high, but investors shouldn't hold their breath as it may still be years away from becoming re...
Bitcoin, Bitcoin ETF, Bitcoin ETF delay, crypto, Gary Gensler, Markets, MI Exclusive, SEC

The SEC has delayed a decision on another bitcoin ETF, putting off approval of a fund from WisdomTree

Gary Gensler's SEC has increased its focus on cryptocurrencies Chip Somodevilla/Getty Images The SEC on Tuesday delayed WisdomTree's application for a bitcoin ETF, adding to a pile-up of applications sitting on the agency's docket. "There's nothing [in the SEC's order] that we're not saying ourselves as an ETF issuer," Ryan Louvar, general counsel at WisdomTree, told Insider. But the agency now may be warming up to the view, expressed by many bitcoin fund applicants, that not approving a regulated ETF could present its own risks. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The SEC on Tuesday delayed WisdomTree's application for a bitcoin ETF, adding to a pile-up of applications sitting on the agency's docket.In an order putting off approval, the SEC ...
Bitcoin, Bitcoin ETF, Bitcoin ETF delay, Gary Gensler, Markets, MI Exclusive, VanEck Bitcoin ETF

The SEC has postponed its decision on a bitcoin ETF from Valkyrie Digital Assets, the second crypto fund application the regulator has delayed in the last week

The SEC postponed a decision on another bitcoin ETF application it is reviewing, from Valkyrie Digital Assets.  The regulator had to decide whether to approve the ETF by June 26, but has extended the deadline.  Last week, the SEC delayed the decision to approve a bitcoin ETF from VanEck .  Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The US Securities and Exchange Commission postponed the decision to approve or deny yet another bitcoin ETF application.The regulator had to decide whether to approve the Valkyrie Bitcoin ETF by June 26, but it has now extended the review period to August 10. The SEC said i...