The United States Securities and Exchange Commission (SEC) may delay its decision on allowing a spot cryptocurrency exchange-traded fund (ETF) until early 2024. The SEC has the authority to delay ETF applications for up to 240 days from the first filing, and it has never approved a spot Bitcoin ETF proposal. One challenge for approving a spot crypto ETF may be the difference in nature compared to Bitcoin futures-linked ETFs. The SEC’s decision on ETF applications is influenced by its members and the political makeup of the commission.
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