Potential Postponement of SEC’s Ruling on Spot Bitcoin ETF Under Consideration

Fox Business reporter Eleanor Terrett has indicated that the United States Securities and Exchange Commission (SEC) might postpone its decision regarding the highly anticipated spot Bitcoin ETFs.

Terrett shared via an X post that the SEC’s five-member committee is still in a position to delay greenlighting a spot Bitcoin (BTC) ETF. Although there’s no scheduled vote by the ETF committee, she clarified that any member can call for a comprehensive committee review and vote according to their discretion.

“Commissioners include: Gensler (D), Crenshaw (D), Peirce (R), Lizárraga (D) and Uyeda (R).” – Eleanor Terrett, Fox Business Journalist

Responding to Terrett’s post, Bloomberg’s Senior ETF Analyst Eric Balchunas commented that the situation reflects a correct interpretation of regulations. However, he expressed no concern, citing the diligent efforts of SEC staff in collaborating with issuers. Balchunas affirmed that there should be no complexities in approving applications for spot Bitcoin ETFs.

Sources at Bloomberg anticipate the SEC to make a decision on multiple spot Bitcoin ETF applications by January 10. According to these sources, the SEC is expected to soon vote on the exchanges’ 19b-4 filings and could make a simultaneous decision on Form S-1.

As the crypto community eagerly awaits the SEC’s verdict, opinions are split. Some anticipate a timely decision, while others foresee another potential delay by the SEC in approving the ETFs. Despite market uncertainties, the price of Bitcoin has unexpectedly surged, breaking past the $47,000 mark and reaching new multi-month highs.