SEC Permits Extension for Bitcoin ETFs

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The Securities and Exchange Commissions (SEC) stance on Cryptoassets could be said to be apprehensive at best. With their latest stance now displayed through the continuation of the review of the Bitcoin (BTC) Exchange Traded Funds (ETFs). These ongoing developments have left many in the crypto community wondering what implication would be had on the price to buy Bitcoin (BTC). Most agreed that the price would rise considerably, but many analysts pointed out that the SEC would be likely to reject the ETFs based on previous decisions relating to similar products.

However, recent reports suggest that the four BTC ETFs have seen their deadline extended, instead of rejecting all funds that flow through. The SEC has extended the deadline by 45 days and plan to use this window to make further deliberations. This judgement relates to previous statements on the matter as they have previously suggested additional time would be required to assess the full implications of the 19b-4 application, leaving the approval of the four ETFs to be prolonged.

Reportedly, the new ETF deadlines will be separated in the following order, Global X Bitcoin Trust November 21, Valkyire XBTO Bitcoin Future Fund December 8, WisdomTree Bitcoin Trust December 11, followed by Kyptoin Bitcoin ETF December 24. Should the SEC find grounds for approval within this window, investors can expect opportunities to buy Bitcoin ETFs in the near future.

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