The SEC has delayed its decision on Bitcoin ETFs, causing the price of Bitcoin to drop. The SEC is reviewing applications from various finance firms that want to launch the first spot Bitcoin ETF. The deadlines for public feedback on these applications have been extended. The recent delay was not unexpected, as the SEC typically takes the full review period before making a decision. The D.C. Circuit Court of Appeals criticized the SEC’s basis for rejecting Bitcoin ETF applications, adding to the complexity of the regulatory landscape. The crypto community and financial institutions are eagerly awaiting a clear direction on the future of Bitcoin ETFs in the U.S.

AI Sentiment: Negative