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The United States Securities and Exchange Commission (SEC) has postponed its ruling on six spot Bitcoin exchange-traded fund (ETF) applications from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Fidelity, and BlackRock. In a filing on Aug. 31, the regulator said they will be taking another 45 days to consider the proposed rule changes. That means they have until October 2023 to approve, deny, or announce a delay of the decision. This postponement follows reports suggesting that the SEC might consider applications with surveillance-sharing agreements, prompting several firms to resubmit their applications . Additionally, it comes after speculation by Bloomberg analysts Eric Balchunas and James Seyffart that a spot Bitcoin ETF might be approved in the US following this week’s court ruling favoring Grayscale’s appeal. You might also like: Analysts: chance of SEC approving spot Bitcoin ETF in 2024 is at 95% Excluded from this determination is Bitwise’s Bi...

Shares of cryptocurrency exchange Coinbase saw a dramatic late-day rally on Monday, closing up over 15% following positive news for the crypto industry. Coinbase stock hit $85.13 at market close, a jump of nearly 13% from its opening price. The surge came after reports emerged that crypto asset manager Grayscale won a legal dispute with the Securities and Exchange Commission (SEC) over a proposed bitcoin exchange-traded fund (ETF). According to the latest data, Coinbase stock has plunged by 1.1% and stands at $83.71 at press time. Also read: Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC Grayscale CEO optimistic about Bitcoin ETF approval On Monday, a federal judge ruled the SEC must re-evaluate its previous rejection of Grayscale’s application to convert its Bitcoin Trust into a spot Bitcoin ETF. The court decision was seen as a watershed moment in the yearslong battle for regulatory approval of crypto ETFs. In an interview after the ruling, G...