Title: SEC’s Delayed Decision on Global X’s bitcoin ETF Approval
The U.S SEC Delays Decision on Global X’s bitcoin ETF
The U.S. Securities and Exchange Commission (SEC) announced a delay in its approval for Global X’s spot bitcoin [BTC] exchange-traded fund [ETF], listed on the Cboe exchange. The decision was anticipated and the SEC initiated a comment period for the Global X bitcoin Trust, a collaboration with the Cboe BZX exchange, extending until late December.
The Envisioned Delay
The SEC’s decision to delay the approval for Global X’s bitcoin ETF was outlined in the press release on November 17th, stating that public comments are expected in the next 35 days. Bloomberg ETF analyst James Seyffert predicted the impending delay, which pushed the new deadline for the Global X ETF approval or disapproval to December 22nd.
Furthermore, the SEC concurrently deferred its decision on the Franklin bitcoin ETF until early 2024, amplifying the anticipation surrounding crypto-related financial instruments.
BlackRock’s Interest in ethereum
Recently, investment management giant BlackRock officially placed its bet on ethereum, submitting an S-1 application for a spot ethereum ETF to the SEC. This follows BlackRock’s recent Nasdaq filing, revealing ambitious plans for ethereum.
XRP Frenzy After Fake ETF News
In a whirlwind of market activity, a deceptive claim regarding BlackRock launching a Ripple (XRP) ETF sparked chaos, resulting in a 12% surge in XRP prices and the liquidation of millions in futures positions. The commotion initiated with the widespread circulation of an unverified post showing a regulatory filing by BlackRock for the iShares XRP Trust. However, the exuberance proved short-lived as Bloomberg analyst Eric Balchunas promptly discredited the filing’s accuracy, asserting that it might have been a fraudulent use of BlackRock officials’ identities. The repercussions extended beyond immediate price fluctuations, impacting XRP derivatives traders, with liquidations exceeding $7 million in the last 24 hours.
### News source: eng.ambcrypto.com