The US Securities and Exchange Commission (SEC) has once again delayed its decision regarding several applications for spot Bitcoin ETFs, pushing the deadline to January 10, 2024. The affected ETF applications are from companies such as ARK Invest and 21Shares.

The SEC justified this extension by stating that it needed more time to review the applications thoroughly. Additionally, the decision on the Global X Bitcoin Trust's ETF application has been postponed until November 21, 2023.

Earlier in July, the SEC had accepted ETF applications from major financial institutions like BlackRock, VanEck, Fidelity Investments, Invesco, WisdomTree, and Franklin Templeton. However, the regulator has yet to approve any spot Bitcoin ETFs. It previously approved similar products based on Bitcoin futures from ProShares and Valkyrie Investments.

The SEC's repeated delays in approving spot Bitcoin ETFs have had a notable impact on the cryptocurrency market, causing significant price fluctuations. The market remains eager for the launch of such ETFs, which could potentially open up more avenues for institutional investment in Bitcoin.