On Wednesday, the Bitcoin price rallied toward $38,000 amid expectations of the United States Securities and Exchange Commission (SEC) finally approving the first Spot BTC ETF. The regulator would end up exercising its right to delay its decision further, something that has usually been bearish for the price. However, the Bitcoin price continued to show strength, suggesting that a Spot Bitcoin ETF approval might be priced into the market already.
SEC Delays Spot BTC ETFs
The SEC announced on Wednesday that it had decided to further delay its decision on Spot Bitcoin ETF filings; in particular, the Hashdex Spot Bitcoin ETF filing which was due to a decision or a delay on November 15. The Commission had decided that it needed more time to contemplate