Tuesday, February 27, 2024

It’s Deadline Day for an SEC Decision on Spot Bitcoin ETFs. Here’s What to Watch.

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It’s Deadline Day for an SEC Decision on Spot Bitcoin ETFs. Here’s What to Watch.

The SEC faces a Wednesday deadline to rule on at least one of 11 applications for ETFs that hold bitcoin.

The SEC faces a Wednesday deadline to rule on at least one of 11 applications for ETFs that hold bitcoin. (Andrew Kelly/Reuters)

The Securities and Exchange Commission faces a final deadline Wednesday to rule on at least one of 11 applications for exchange-traded funds that hold bitcoin. The decision is long awaited by cryptocurrency watchers—and the prospect that some or all of the applications will be approved has lately been seen as bullish for bitcoin.

There was some drama late Tuesday: After a message on the social network X said the SEC had approved the funds, the message was deleted and the agency said its account had been “compromised.”

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