The U.S. Securities and Exchange Commission (SEC) today postponed its review of DEFI, the spot Bitcoin ETF launched by asset manager Hashdex.
This initiative it is produced The SEC had to make a ruling on this ETF two days before the first deadline. The next one is January 1, 2024, as shown in the following CriptoNoticias publication.
In this way, the SEC acted as predicted by various market analysts, who predicted that the agency would delay its judgment as long as possible.
The market’s eyes are on January 10thThen the SEC’s final deadline to review the ARK 21Shares spot Bitcoin ETF application expires.
In the meantime, The agency is expected to delay two more requests soon. One of them is that of asset manager Franklin Templeton, which expires on November 17, the same deadline as Hashdex’s. Therefore, there could be a delay in the coming hours, commented ETF analyst James Seyffart.
The application from the asset manager Global X, in turn, sets November 21st as the first deadline to receive a ruling from the SEC. And according to Seyffart, the regulator could postpone its review of this ETF as early as this week.
Against this backdrop, Bitcoin price rose to $37,800 today, marking a gain of more than 5% in the last 24 hours and a positive market reaction to the ETF delay. In the graphic below, provided by TradingViewsaid price movement is observed:
However, Seyffart taken into account who was “a little surprised at how little Bitcoin moved after news of the delay.” I expected greater volatility, but the price experienced an increase within the lateralization zone that it has maintained since last week.