U.S. SEC delays decision on spot redemption approval for Bitwise Bitcoin and Ethereum ETFs
Suehyeon Lee
Summary
- The U.S. Securities and Exchange Commission (SEC) announced it has delayed its decision on whether to allow spot redemption for Bitwise's Bitcoin (BTC) and Ethereum (ETH) ETFs.
- The SEC stated, "More time is needed to take action on the proposed rule change," and reported that a final conclusion will be made by September 8.
- At that time, a decision to approve, reject, or postpone the review for further consideration may be made.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to allow spot redemption for Bitwise's Bitcoin (BTC) and Ethereum (ETH) ETFs.
On the 17th (local time), according to Decrypt, the SEC stated, "More time is needed to take action on the proposed rule change," thus delaying the decision to approve spot redemption for Bitwise's Bitcoin and Ethereum ETFs.
With this action, the SEC is set to issue a final conclusion on the proposal by September 8. At that time, they may approve, reject, or postpone the decision for further review.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
