The SEC Delays Approval of Spot Bitcoin Applications for Industry Giants
The Securities and Exchange Commission (SEC) has once again postponed the approval of Spot Bitcoin applications for major players in the industry, including BlackRock, Fidelity Investments, ARK Investment Management, VanEck, and others. The final deadline for ARK Investment Management is on January 10th, and all eyes are on this date.
Bitcoin Price Surges on False BlackRock ETF Approval
A false report on October 17th claimed that the SEC had approved BlackRock for a spot Bitcoin ETF. This news caused Bitcoin prices to skyrocket by 10% and reach as high as $30,106. However, a spokesperson from BlackRock clarified that their iShares Bitcoin ETF application is still under review by the SEC and has not received official approval.
January 10th Deadline Crucial for ARK’s BTC Spot ETF
The SEC has previously approved Bitcoin futures ETFs, which is seen as a positive sign. However, the fate of ARK’s BTC Spot ETF will be determined by the SEC’s decision on January 10th. Analysts believe there is a 90% chance of approval by this deadline, making it a significant event if it happens.
ARK’s Application and Other Approvals
The deadline of January 10th is specifically for ARK Invest and 21Shares’ spot Bitcoin ETF application. Analysts predict a high chance of approval. Other applications from BlackRock, Fidelity Investments, Wisdomtree, VanEck, and more will face an extended deadline of March 15 in the following year.
Hot Take: Potential Milestone for Cryptocurrency on January 10th
All eyes are now focused on January 10th, as it could potentially mark a significant milestone in the world of cryptocurrency. The SEC’s decision regarding ARK’s BTC Spot ETF application will have a significant impact on the industry. If approved, it could pave the way for further adoption and mainstream acceptance of Bitcoin and other cryptocurrencies.
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