Cryptocurrency markets experienced a sudden price crash, affecting Bitcoin, Ethereum, and XRP.
Concerns have arisen over a possible "greatest rug pull ever" orchestrated by the Federal Reserve.
The U.S. SEC delayed its decision on a spot Bitcoin ETF application by Ark Invest, intensifying market uncertainty.
The SEC will decide on at least five spot Bitcoin ETFs in early September, managed by firms overseeing a total of $15.5 trillion.
BlackRock, the world's largest asset manager, is among those awaiting a verdict.
Investors are eagerly awaiting the SEC's decisions, but there's speculation that they might be postponed, leading to potential disappointment.
Europe's first spot Bitcoin ETF, managed by Jacobi Asset Management, recently launched on Euronext Amsterdam.
Experts believe more ETFs will bring increased liquidity and integration of crypto into the financial system.
However, recent market pullbacks suggest that immediate SEC approval for a U.S. Bitcoin ETF is unlikely.
The crypto market is preparing for a pivotal September as it awaits regulatory decisions that could significantly impact digital asset prices and market growth.