SEC delays BlackRock, Valkyrie spot bitcoin ETFs decision

Industry experts anticipated the SEC’s move to postpone its decision

article-image

Who is Danny/Shutterstock modified by Blockworks

share

The Securities and Exchange Commission has delayed decisions on several other bitcoin ETF proposals just days after delayed decisions for Ark 21Shares and GlobalX until January.

The anticipated delays filed Thursday focused on BlackRock, Valkyrie, and Bitwise’s bitcoin ETF applications. The SEC initially delayed its decision on the fund on Aug. 31.

On Wednesday, the SEC moved to delay Hashdex’s bitcoin ETF which was expected on or around Oct. 6.

Bloomberg’s James Seyffart said the delays are trickling in now to get ahead of an expected government shutdown. In a hearing in DC earlier this week, SEC Chair Gary Gensler said a shutdown would leave the regulator with a “skeletal” staff. 

BlackRock is the most highly anticipated of the bitcoin ETF applications, with the $9 trillion asset manager having an impressive record of approvals from the SEC. Bloomberg’s Eric Balchunas and Seyffart have said that the record stands at roughly 575-1.

Read more: Is another SEC bitcoin ETF denial politically untenable?

Prior to the second delay, many of the fund hopefuls had deadlines in mid-October, though — as Blockworks previously reported — industry experts have stressed that the SEC can delay its rulings until the end of the 240-day deadlines.

The delays have left some questioning whether the SEC plans to appeal the Grayscale decision, in which a panel of judges sided with Grayscale and asked the SEC to re-examine its application to convert its Bitcoin Trust (GBTC) to an ETF.

As Blockworks noted, there is a 45-day window from the Aug. 29 decision for the SEC to appeal. That would mark Oct. 13 as its final day. 

However, as the bitcoin ETFs face further — though expected — delays, the SEC is pushing forward with Ethereum futures ETFs.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

The House embraces crypto — but keeps the fences up

article-image

The network got slower in June — and it wasn’t for tech-related reasons

article-image

After a jittery few months, recent economic data is hinting at a resilient economy that is beginning to re-accelerate

article-image

The stablecoin bill now heads to the president’s desk

article-image

The House on Thursday passed the CLARITY Act, a landmark cryptocurrency market structure bill

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub