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The US Securities and Exchange Commission (SEC) has once again opted to delay its decision regarding the approval of the first-ever US exchange-traded fund directly tied to Bitcoin. Despite growing speculation that approval might be imminent, the primary US securities regulator deferred its decision on Hashdex’s filing. The filing aimed to transform its existing Bitcoin futures ETF into a spot fund, as revealed in a document published on the SEC’s website on Wednesday.
Hashdex’s application, submitted in September, gave the SEC until November 17 to respond. However, the regulatory body has chosen to extend the decision-making process until 2024, a tactic it has employed with several other ETF applicants.
James Seyffart, an ETF analyst at Bloomberg Intelligence, commented, “It’s really not that surprising; the SEC goes early on decisions like this fairly frequently.”
In addition to the deferral on the spot Bitcoin ETF, the SEC also delayed taking action on Grayscale’s bid to introduce a new Ether futures ETF.
