The U.S. Securities and Exchange Commission (SEC) is delaying its decision on several applications to launch cryptocurrency exchange-traded funds (ETFs).
The Wall Street regulator has put off a decision on whether to allow Hashdex to convert its existing Bitcoin (BTC) futures fund into a spot ETF.
The SEC has also delayed a decision on Grayscale's attempt to launch a new futures-based Ethereum (ETH) ETF.
Both ETF filings faced a deadline of Nov. 17 for a decision. However, the SEC has said that it is extending the deadlines without explaining why.
Investment firm Franklin Templeton also faces a Nov. 17 deadline for a Bitcoin ETF application it filed, while other companies are not expected to see any decisions from the SEC until 2024.
The delays come amid growing anticipation that a spot Bitcoin ETF will be approved by the SEC, which has so far rejected every attempt to launch such an investment product in America.
More than a dozen investment firms have filed applications to launch spot Bitcoin ETFs, with several others now applying for similar products related to Ethereum, the second-largest cryptocurrency by market capitalization.
The SEC has yet to decide on any of the ETF applications and it is not clear if a decision will be made this year as hoped by crypto traders and analysts.
The price of Bitcoin, the largest cryptocurrency by market cap, has gained 120% this year and currently trades at $36,500 U.S.
