The US SEC’s Decision on Spot Bitcoin ETFs Anticipated
Crypto enthusiasts are eagerly awaiting the decision of the US Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs filed by major finance companies like BlackRock, Fidelity, and Invesco. If approved, this could potentially trigger a bull run for Bitcoin and bring optimism to the entire crypto sector.
A Possible Approval on October 13th
Crypto Rover, a popular investor and trader, believes that the SEC could approve spot BTC ETFs as early as tomorrow, October 13th. This date marks the deadline for the SEC to appeal the Grayscale Bitcoin Spot ETF decision. If the SEC doesn’t appeal by the end of Friday, it is speculated that all spot BTC ETFs will be approved.
Simultaneous Approval of Multiple Spot BTC ETFs
Cathie Wood, CEO of ARK Investment Management, also believes that if the SEC approves a Bitcoin ETF, it will likely approve more than one at once. James Seyffart, an ETF analyst at Bloomberg Intelligence, supports this idea, suggesting that approving multiple applications would be the SEC’s “path of least resistance.”
A spot BTC ETF allows investors to track the live price of Bitcoin without actually owning it. While this product has been introduced in other regions like Canada and Europe, it has not yet been approved in the United States.
Hot Take: US SEC’s Decision on Spot BTC ETFs Expected Soon
The crypto industry is anxiously awaiting the US SEC’s decision on spot Bitcoin ETFs. If approved, this could have significant implications for Bitcoin and the broader cryptocurrency market. Some experts believe that approval may come soon, possibly as early as October 13th. This date is crucial as it marks the SEC’s deadline to appeal the Grayscale Bitcoin Spot ETF decision. If no appeal is made, it is speculated that multiple spot BTC ETFs could be approved simultaneously. The approval of these ETFs would provide investors with new opportunities to gain exposure to Bitcoin without directly owning the digital asset. All eyes are on the SEC as the crypto community eagerly awaits this potentially game-changing decision.
By
By
By