SEC Defers Decisions on Fidelity, BlackRock Bitcoin ETFs (3)

The US Securities and Exchange Commission delayed making a decision again on whether to approve the first US exchange-traded fund that invests directly in Bitcoin, disappointing advocates just days after a court ruling viewed by many as clearing a path for the long-awaited product.

The primary US securities regulator, whose three-part mandate includes investor protection, deferred on filings from Bitwise, VanEck, Invesco, Valkyrie and WisdomTree, according to documents posted on its website Thursday. A BlackRock spokesperson said the firm was also deferred. SEC Chair Gary Gensler has consistently justified the opposition to the ETFs as necessary to protect investors ...