The Securities and Exchange Commission (SEC) has postponed its decision on spot Bitcoin ETF applications, leading to a 4.1% decline in Bitcoin’s value. The establishment of Bitcoin ETFs is considered crucial for the cryptocurrency market, as it would make investing in Bitcoin more user-friendly. However, instead of making a straightforward decision, the SEC has extended the comment periods for these applications, delaying any clear resolution until mid-October. This decision has drawn scrutiny, with the D.C. Circuit Court of Appeals finding discrepancies in the SEC’s rejection of a Bitcoin Trust’s bid to become an ETF. Despite the delay, the cryptocurrency world anxiously awaits another bull run.
AI Sentiment: Negative
