6 Bitcoin ETF Applications Delayed So Far, BlackRock Rumored to Be Next—Fidelity, WisdomTree, Valkyrie, VanEck, Bitwise, Invesco

cryptonews.com:

Today, the U.S. Securities and Exchange Commission (SEC) announced delays in its decisions regarding Bitcoin ETF applications from six companies out of seven—Fidelity, WisdomTree, Valkyrie, VanEck, Bitwise, and Invesco. 

The regulatory body stated it would need at least 45 more days to review these applications, pushing the deadline to mid-October. 

While these six companies face delays, rumors are also circulating that BlackRock, the last Bitcoin ETF application awaiting a decision, may experience a similar postponement.

The delay is a standard part of the SEC's process. Within 45 days of publishing a proposal in the federal register, the commission often announces whether it needs more time for consideration. 

For these six Bitcoin ETF applications, the SEC has a total of 240 days to make its final decisions. The agency has not given a specific reason for the delay, stating only that it needs more time to examine the proposals and related issues. 

Previously, on August 11, the SEC had postponed its decision on a Bitcoin ETF from Ark 21Shares. At that time, the SEC mentioned that it would request public comments and “institute proceedings” to decide whether to permit the fund to begin trading.

Adding to the list of delays, there are rumors that the SEC is also likely to postpone its decision on a Bitcoin ETF proposal from BlackRock. Originally, the SEC was expected to address BlackRock's application by the end of this week. If these rumors hold true, BlackRock will join the list of companies awaiting the SEC's ruling on their Bitcoin ETF applications.

Industry analysts have speculated that Bitcoin ETF approvals might occur by the end of this year or in 2024. After Grayscale Investments won its case against the SEC in the DC