Bitcoin hopefuls eagerly await the approval of a BTC ETF—but it looks like they’re going to have to wait a little longer.

The price of Bitcoin last week passed $37,000—touching an 18-month high—when news dropped that the U.S. Securities and Exchange Commission had an eight-day window to approve all spot crypto exchange-traded product applications. Investors interpreted the news as bullish, seemingly thinking that a spot Bitcoin ETF could be imminent.

But that window has now closed and the long-awaited crypto vehicle has not yet dropped. Rather, the SEC has delayed decisions on pending applications, like it has done so many times in the past, and will now revisit them in the new year.

The SEC today delayed approval for a spot Bitcoin ETF from Global X, which had an initial deadline of November 21. It also delayed ruling on an application from asset manager Franklin Templeton for the same. Earlier this week, the Commission delayed an application from Hashdex for its own Bitcoin ETF.

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Author: Mathew Di Salvo

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