US SEC to Decide on Two Spot Bitcoin ETFs by Nov. 17

Bitcoin DeFi SEC
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Hongji Feng
Author Categories
About Author

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Bitcoin ETF
Source: Pixabay / tombark

The U.S. Securities and Exchange Commission is scheduled to announce its decisions on two Bitcoin exchange-traded funds (ETFs) by Nov.17, according to Bloomberg Intelligence.

The two ETFs, Hashdex Bitcoin ETF (DEFI) and Franklin Bitcoin ETF, both have a first decision deadline on Nov. 17, 2023, and a second decision deadline on Jan. 1, 2024. As the dates listed represent the final dates of decision, the SEC may release the results prior to the deadlines.

The Hashdex Bitcoin ETF began trading in Sep. 2022. Unlike derivatives-backed ETFs, DEFI was filed under the Securities Act of 1933 instead of the Investment Company Act of 1940. While the SEC Chair Gary Gensler has expressed its preference for Act of 1940 for its greater investor protections, the potential approval of DEFI could advance the progress of similar cases.

According to Nate Geraci, president of The ETF Store, the launch of the Hashdex Bitcoin ETF “bolsters the case for a spot Bitcoin ETF since it’s utilizing the exact same fund structure.” Geraci still believed that “a spot product simply won’t be approved until the SEC has regulatory oversight of crypto exchanges.”

It is also indicated that another Bitcoin ETF, the application refiled by Global X with Coinbase as “surveillance-sharing” partner, will receive its decision by Nov. 21.

More Articles

DeFi News
From $10K to $75K: How Dave Portnoy Pumped and Dumped a Meme Coin on His Followers
Hassan Shittu
Hassan Shittu
2025-02-07 23:50:53
DeFi News
Donald Trump’s World Liberty Financial Set to Create Strategic Crypto Reserve: Report
Julia Smith
Julia Smith
2025-02-07 23:19:22
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors