More Bitcoin ETF decisions are already looming after SEC declines to rule

financialexpress.com:

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. 

Crypto adherents are keeping track of the dates because expectations are running high that this time around — unlike past attempts — an exchange-traded fund that invests directly in Bitcoin could receive the regulatory greenlight. In particular, many have glommed onto the fact that BlackRock, the asset-managing powerhouse, has thrown its name into the race — it has a near-pristine record of getting ETFs launched. Still, the road to a potential spot fund hasn’t been easy nor quick.

“We fully expect a delay in those decisions as well,” said James Seyffart, an analyst at Bloomberg Intelligence. “The only thing that could possibly change that view is if we get a decision in Grayscale’s lawsuit against the SEC, and even then, it’s likely we’d see a delay by those deadlines as well.” Grayscale is suing the SEC as it attempts to convert its Bitcoin trust into an ETF. 

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,