On Friday, the U.S. Securities and Exchange Commission (SEC) has delayed four bitcoin exchange-traded funds (ETF) deadlines for another 45 days. The regulator noted that it takes more time for the entity to make decisions on ETF applications.

Global X, Kryptoin, Valkyrie, Wisdomtree Bitcoin ETF Deadlines Extended

The Kryptoin Bitcoin ETF, Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, and Wisdomtree Bitcoin Trust have all been delayed according to the latest SEC filing. “The 45th day after publication of the notice for this proposed rule change is October 24, 2021,” the U.S. regulator’s filing details. Although there have been many bitcoin ETFs that have been filed in the U.S., none of them have been approved by the SEC.

The SEC filing was made public by J. Matthew DeLesDernier, the regulator’s assistant secretary. DeLesDernier explains that “the Commission considers it appropriate to give the regulator a longer time period in which to act on the proposed change to ensure that it has enough time to review the rule change and to make any comments.” The regulator added:

Accordingly, pursuant to Section 19(b)(2) of the Act, Commission designates December 8, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change, as modified by Amendment No. 1 (File Number. SR-Nasdaq-2021-066).

Speculators Expected a Bitcoin ETF Approval by the End of October

Speculators believed that a bitcoin ETF could be approved this year. Eric Balchunas, a Bloomberg analyst, stated that he believes an ETF will be approved before the end of October. Balchunas suggested that the Proshares Bitcoin ETF could be the most likely candidate.

“New note out today from James Seyffart [on] how the Ether ETF withdrawals add to the likelihood that a bitcoin futures ETF will be launched by end of October with Proshares as favorite, [although] it could (and arguably should) be a group to avoid first-mover advantage,” Balchunas said. The Bloomberg analyst added

We think ether withdrawal shows SEC has a nose in this [right now] and is in [regular] contact with issuers which should mean any kinks ironed out so that they can launch 75 days after filing. Further, ProFunds’ bitcoin MF was launched 77 days after filing. These are [the] the same thing.

The four bitcoin ETFs, which were delayed Friday, will need to wait for a few weeks. The SEC filing states that the Commission will either approve or disapprove of the rule change proposed, or initiate proceedings to determine if the rule change should not be approved.

What do you think about the SEC delaying four bitcoin ETFs on Friday?