Jason Balchunas is a senior ETF analyst at Bloomberg Intelligence. He has been following the development of Bitcoin ETFs for many years and has been a vocal advocate for their approval. In a recent interview, Balchunas said that he is "still confident" that the SEC will approve a Bitcoin ETF, even though the regulator has delayed its decision on several applications.Balchunas cited several reasons for his confidence. First, he noted that the SEC has already approved a Bitcoin futures ETF, which is a similar product. Second, he said that the crypto market has matured significantly in recent years, making it less risky than it was when the SEC first started considering Bitcoin ETFs. Third, he pointed to the growing demand for Bitcoin ETFs from investors.Of course, there is no guarantee that the SEC will approve a Bitcoin ETF. However, Balchunas's confidence is based on the evidence and his understanding of the SEC's regulatory process.SEC's delay of decision on Bitcoin ETF applicationsThe SEC has delayed its decision on seven applications for Bitcoin ETFs. The decision was originally scheduled to be made by August 31, 2023, but the SEC has now pushed it back to mid-October.

The SEC has not given a reason for the delay. However, some analysts believe that the regulator is concerned about the risks associated with Bitcoin, such as its volatility and its potential to be used for illegal activities.The delay is a disappointment to many investors who are hoping to get exposure to Bitcoin through an ETF. However, it is important to remember that the SEC has not rejected any of the applications. The regulator is simply taking more time to consider the matter.

What to expect in OctoberThe SEC is expected to make a decision on the Bitcoin ETF applications in mid-October. If the SEC approves the applications, it would be a major milestone for the crypto industry. It would also make it easier for investors to get exposure to Bitcoin, which could help to drive the price of the cryptocurrency higher.

However, if the SEC rejects the applications, it would be a setback for the crypto industry. It would also make it more difficult for investors to get exposure to Bitcoin, which could weigh on the price of the cryptocurrency.

Only time will tell what the SEC will decide. However, the delay in the decision has created a lot of uncertainty in the crypto market. Investors will be closely watching the SEC's decision in October.