SEC Defers Bitcoin ETF Verdict Again, While Ripple (XRP) Stagnates and InQubeta (QUBE) Presale Pulls Significant Funds
The world of cryptocurrency is again in the spotlight as the U.S. Securities and Exchange Commission (SEC) recently postponed its decision to approve a spot Bitcoin exchange-traded fund (ETF). This delay marks the third such postponement and raises questions about the regulatory future of digital assets.
As the community awaits the SEC's final verdict, other developments are unfolding. First, Ripple ($XRP) has experienced a period of stagnation, but this may soon come to an end. And second, one of the new DeFi projects, InQubeta ($QUBE), has managed to attract substantial funding during its presale phase, showing the continued enthusiasm for blockchain-based investments.
On September 26th, the SEC again deferred its verdict on a Bitcoin ETF, marking the third delay for a proposal submitted by ARK Invest and 21 Shares.
Initially filed in April, the ETF proposal had investors and beginner cryptocurrency enthusiasts on the edge, expecting a verdict by November 11th. However, the SEC has extended the timeline until January 10th to reach a decision. This postponement has left the crypto community in suspense and raised the stakes for other companies eagerly awaiting approval for similar financial instruments.
Among these hopefuls are industry giants BlackRock and Fidelity, both seeking the green light from the SEC. Additionally, GlobalX, a prominent exchange-traded fund provider, had its bitcoin ETF application delayed on the same day as the ARK Invest and 21 Shares proposal.
The delay has sparked concern among lawmakers urging the SEC to expedite the approval of a spot bitcoin ETF. In a letter addressed to SEC chief Gary Gensler, four House Financial Services Committee members argued that such an investment vehicle is no
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