Price, Timeline and Uncertainties
- Crypto influencers predict the future of Bitcoin after the court ruling mandating the SEC to re-evaluate Grayscale’s Bitcoin ETF proposal.
- Miles Deutscher believes the odds of other Bitcoin spot approvals have significantly increased.
- Ivan on Tech is confident the product will be approved and hints towards a six-figure Bitcoin price in the near future.
- Ryan Sean Adams believes the recent ruling is huge news and speculates about the future of Ark Invest’s Bitcoin ETF product.
- Cathie Wood thinks the SEC will approve multiple Bitcoin ETFs at once if they decide to approve any.
Potential Alternative Objections
- James Seyffart outlines two ways the SEC can still stop Bitcoin ETFs from listing.
- The SEC could revoke the listing of Bitcoin Futures ETFs.
- The SEC might raise new reasons for denial related to custody or settlement of Bitcoin.
- Seyffart considers the revoking scenario to be unlikely.
- The SEC could potentially extend the deadline for Ark Invest’s Bitcoin ETF product until January 2024.
Hot Take
Crypto influencers are optimistic about the approval of Grayscale’s Bitcoin ETF and anticipate a positive impact on Bitcoin’s price. However, there are potential objections and uncertainties that could influence the SEC’s decision. Overall, the court ruling has sparked speculation and excitement among the crypto community.
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