Despite previous reports, the US Securities and Exchange Commission (SEC) has not yet approved the iShares Bitcoin ETF.
The news was reported by major sources including Bloomberg And Muntelegraaf. According to the SEC filing page, no update has been verified by CryptoSlate.
Many are reporting the news as ‘fake’ after attempts to validate the information. Fox reporter Eleanor Terrett claims her sources are at BlackRock refused the approval.
The SEC had postponed its ruling on several proposed rule changes, including those by Fidelity (Wise Origin), VanEck, WisdomTree and Invesco. These companies wanted to introduce a spot Bitcoin ETF through the Cboe BZX Exchange.
The regulator had also postponed decisions on Valkyrie Investments and BlackRock (iShares) which aim to offer ETFs through Nasdaq, along with Bitwise, which plans to launch its ETF through NYSE Arca. The SEC had set most of these decisions for October 17, with Valkyrie scheduled for October 19 and Bitwise scheduled for October 16.
It remained uncertain whether the SEC would further delay its decisions once the deadlines were met. The past experiences of the companies mentioned above, who had their previous Bitcoin ETF applications rejected by the SEC, cast a shadow over the process. The potential for the SEC to reject the latest batch of ETF proposals in October would have set off a new cycle of applications, approvals, delays and rejections.
Grayscale’s intention to convert its GBTC fund into an exchange-traded fund has also reportedly contributed to the overall optimism, showing the potential for future approvals.
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