SEC's Cautious Approach Leads to Further Delays in Bitcoin ETF Approvals

• The U.S. Securities and Exchange Commission (SEC) has delayed the approval of two Bitcoin exchange-traded funds (ETFs) from Franklin Templeton and Global X.
• The delay is due to the timing of the applications, with other issuers submitting earlier and also facing postponements.
• The SEC follows a procedural approach, with a comment period of at least 35 days before making a decision.
• BitGo CEO, Mike Belshe, is cautiously optimistic about Bitcoin ETF approvals but expects further rejections.
• The SEC's hesitation is based on concerns over market manipulation and the need for investor protection.

The sentiment in the article is cautious and reflects the SEC's careful evaluation process for Bitcoin ETFs.