SEC Sends Comments to Bitcoin ETF Issuers
The U.S. Securities and Exchange Commission (SEC) has sent comments to prospective Bitcoin ETF issuers following a round of amended S-1 forms filed by hopefuls Monday. While some see this as a delay signal, others argue that it shows how quickly the SEC is turning these things around. The issuers are expected to file updated documents addressing minor details in the S-1 forms. Despite this, there are reports that spot Bitcoin ETFs could be approved by Wednesday, with trading potentially starting on Thursday.
Updated S-1 Filings
The recent updated S-1 filings from Bitcoin ETF issuers have resulted in a fee war as firms compete to offer more attractive fee structures to investors. Firms such as VanEck and Bitwise have revealed that they are seeding their prospective ETFs with millions of dollars. This activity has sparked optimism that the long-awaited investment vehicle may finally arrive, with Bloomberg Intelligence analysts increasing their estimate of the odds of an ETF being approved in January to 95%. However, not everyone shares this optimism, as SEC Chair Gary Gensler has expressed concerns about crypto investing.
Hot Take: Uncertainty Remains for Bitcoin ETF Approval
While there is hope for the approval of spot Bitcoin ETFs, there is still uncertainty surrounding the SEC’s decision. Despite the quick turnaround in sending comments to issuers, some believe that Chair Gensler’s warnings about crypto investing may lead to a rejection or delay of the ETF. Others remain optimistic and anticipate a successful launch this week. The crypto community eagerly awaits further updates from the SEC regarding the approval status of Bitcoin ETFs.
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