SEC Delays Ruling on Spot Bitcoin ETF From BlackRock & Others
As per the documents posted on the SEC’s website on Thursday, August 31, the federal securities regulator differed on filing from all seven applications. SEC Chair Gary Gensler has consistently defended the rejection of ETF proposals as a measure to safeguard investors from potential fraud in an industry he perceives as being susceptible to such activities. In the documents published on Thursday, the US SEC said: advertisement “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein”. The ruling follows a significant triumph by Grayscale Investments against the SEC. Earlier this week, a federal appeals court overturned the rejection of Grayscale’s bid to transform GBTC into an ETF. The court deemed the denial “arbitrary and capricious” as the commission had not justifie...