SEC May Delay Decision on Spot Bitcoin ETFs
Fox Business journalist Eleanor Terrett reported that the U.S. Securities and Exchange Commission (SEC) may postpone a decision on spot Bitcoin ETFs. According to Terrett, each member of the five-member SEC committee has the right to request a full committee review and vote on the matter based on their judgment. While no formal ETF committee vote is scheduled, this delay is a possibility.
Bloomberg Analyst Not Worried
Bloomberg senior ETF analyst Eric Balchunas commented on the situation, stating that he is not worried about the delay. He believes that the SEC staff works closely with issuers and that approving applications for spot Bitcoin ETFs should not be complicated.
SEC’s Ruling and Market Expectations
According to Bloomberg sources, the SEC plans to rule on several spot Bitcoin ETF applications on January 10 and vote on exchanges’ filings in the coming days. The regulator could also decide on Form S-1 around the same time. The cryptocurrency community is divided in their expectations, with some believing that the SEC will decide within the specified time frame and others anticipating further delays. Despite these uncertainties, the price of BTC has risen above $47,000, reaching multi-month highs.
Hot Take: BTC Price Surges Amidst Uncertainty
The U.S. Securities and Exchange Commission’s potential delay in approving spot Bitcoin ETFs has sparked speculation within the crypto community. While some anticipate a decision within the expected timeframe, others predict further delays. Nevertheless, despite this uncertainty, the price of BTC has experienced a significant surge, surpassing $47,000 and reaching multi-month highs. As investors eagerly await the SEC’s ruling, it remains to be seen how this regulatory development will impact the overall cryptocurrency market.
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