SEC Postpones Verdict on Franklin Templeton, Global X Bitcoin ETFs

• U.S. SEC Delays Decision on Franklin Templeton's and Global X's Spot Bitcoin ETF Applications
• New Deadlines in Early 2024
• Market Reaction to the Delays
• Update (18:45 UTC, Nov. 17)

U.S. SEC Delays Decision on Franklin Templeton's and Global X's Spot Bitcoin ETF Applications

The U.S. Securities and Exchange Commission (SEC) has postponed its decisions on the spot Bitcoin$42,260 -0.64% ETF applications submitted by both Franklin$0.0015 -3.24% Templeton and Global X. This information was confirmed in a recent official note.

New Deadlines in Early 2024

Franklin Templeton's deadline for SEC action was originally set for today, while Global X's was slated for November 21. However, these delays have pushed the new deadlines into early 2024.

Market Reaction to the Delays

The postponement of any spot Bitcoin ETF approvals was not unexpected by most market watchers, making the SEC's actions somewhat unsurprising. As of now, Bitcoin (BTC) has seen a modest increase for the day, trading at $36,450.

Update (18:45 UTC, Nov. 17)

The story has been updated to include the news regarding the delay on Franklin Templeton's spot Bitcoin ETF decision.

Edited by Jonathan Stoker