The U.S. Securities and Exchange Commission (SEC) has extended the deadline for making a decision on several proposed spot Bitcoin ETFs, including those submitted by BlackRock and Fidelity.
The delay comes as the SEC continues to review the potential risks and market impact of allowing a spot ETF to trade on U.S. exchanges.
While futures-based Bitcoin ETFs have already been approved, a spot ETF would directly track the price of Bitcoin, making it more appealing to investors looking for direct exposure to the cryptocurrency.
The market is closely watching the SEC’s decision, as approval could lead to a surge in Bitcoin’s price and increased institutional investment.
