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SEC Delays All Seven Spot Bitcoin ETF Applications from BlackRock, Invesco, WisdomTree, and Others

The U.S. Securities and Exchange Commission (SEC) has delayed the filing of all seven spot Bitcoin ETF applications from BlackRock, Invesco, WisdomTree, and others. This delay was expected due to the SEC's recent struggles with Grayscale's victory earlier this year. The SEC has defended its rejection of ETF proposals as a measure to protect investors from potential fraud in the industry.

The delay is to give the SEC sufficient time to consider the proposed rule change and the issues raised therein. The introduction of a spot fund could simplify the process for institutional players to participate in the crypto market and could potentially make tens of billions of dollars.

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