The US Securities and Alternate Fee (SEC) as we speak delayed its assessment of DEFI, the spot bitcoin ETF launched by asset supervisor Hashdex.
This initiative se produce two days earlier than the primary deadline that the SEC needed to situation a verdict on mentioned ETF. The subsequent one is January 1, 2024, as proven within the following CriptoNoticias publication.
On this approach, the SEC acted as predicted by completely different market analysts who projected that the company would delay its verdict so long as attainable.
The market’s eyes are on January 10which is when the SEC’s ultimate deadline to assessment the ARK 21Shares spot bitcoin ETF software expires.
In the meantime, The company is anticipated to delay two different requests quickly. Considered one of them is that of the asset supervisor Franklin Templeton, which expires on November 17, the identical deadline as that of Hashdex. Due to this fact, it may additionally obtain a delay within the coming hours, commented ETF analyst James Seyffart.
In flip, the request from asset supervisor International X has November 21 as the primary deadline to obtain a verdict from the SEC. And, in line with Seyffart, the regulator may delay its assessment for this ETF as quickly as this week.
With this panorama, the value of bitcoin was boosted as we speak to USD 37,800, which suggests a rise of greater than 5% within the final 24 hours and a constructive market response to the delay of the ETF. Within the following graph, supplied by TradingView, this value motion is noticed:
Nevertheless, Seyffart thought of who was “just a little shocked by how little bitcoin moved upon the information of the delay.” I anticipated higher volatility, however the value skilled a rise throughout the lateralization zone that it has maintained since final week.
