Bitcoin ETF candidates got another dose of disappointment when US regulators on Friday punted on making a decision on such a product. But the next time they hear from them might be just a few weeks away.
The US Securities and Exchange Commission needs to come to a conclusion on the Bitwise Bitcoin ETP Trust by Sept. 1, according to a Bloomberg Intelligence tally. Regulators can reject, approve or delay. Decisions for applications from BlackRock, VanEck, WisdomTree and Invesco are due just a day later, with others following closely behind.
Many in the crypto community — and fans outside of it — have been longing for a spot-Bitcoin ETF for years. They argue that it would not only make investing in Bitcoin more accessible to everyday investors, but that it would also help bring the digital-assets space closer into traditional financial markets. On the other hand, regulators have consistently cited fraud and manipulation as some of the reasons not to approve such a product.
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