U.S. Securities and Exchange Commission (SEC) scheduled to deliver updates on several spot Bitcoin ETF filings in the first week of September 2023.
The iShares Bitcoin Trust filing by Blackrock is set for the September 2, 2023 deadline, whereas the Bitwise Bitcoin ETP Trust filing is set for September 1, 2023. Besides these, four other filings have September 2, 2023 as the first deadline.
While the SEC could most likely delay the decision, any small hint of an approval could likely spur a crypto market rally.
The total response time for the SEC's decision on a Bitcoin Spot ETF application is 240 days. During this period, there will be 3 rounds of public comments. The intervals between these comment periods are 45 days, 45 days, 90 days, and 60 days, respectively.
In other words, before the SEC issues a final decision (approval or rejection), they have the option to delay the decision three times during the comment periods. Additionally, the SEC retains the authority to approve or reject the application at any point during the resolution.
Find detailed information about 2023 Bitcoin Spot ETF Application
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