Uncertainty Surrounds SEC Approval of Bitcoin ETFs
The Securities and Exchange Commission’s decision on approving spot Bitcoin exchange-traded funds (ETFs) is still uncertain. However, analysts believe that last-minute amendments to filings are not indicative of a delay.
Approvals Expected Soon
The final deadline for a decision on the Ark 21Shares spot Bitcoin ETF is January 10. If there is no approval by this date, it would be considered a denial. Bloomberg ETF analyst James Seffart confirmed that the SEC made comments on pending applications, but this is not unusual.
Quick Turnaround Time
Seffart noted that the SEC’s quick response time shows how efficiently they are handling these applications. He believes that if the SEC wanted to delay, the issuers would not have received comments back so quickly.
Multiple Amendments Filed
This week, several BTC ETF applicants rushed to file their final Form S-1 amendments with the SEC. These applicants include Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Ark, Fidelity, Bitwise, and Franklin Templeton.
Jay Clayton Predicts Inevitable Approval
Former SEC chair Jay Clayton believes that the approval of a spot Bitcoin ETF is inevitable. He stated in an interview with CNBC that there is nothing left to decide and expects the funds to be approved.
Gensler Issues Warning Against Crypto Investment
The current SEC chair Gary Gensler has issued another warning about investing in crypto. He reiterated his arguments against the asset class and cautioned investors about potential non-compliance with securities laws and lack of important information and protections.
Hot Take: Bitcoin ETF Approval Awaits Final Decision
As the SEC’s decision on spot Bitcoin ETFs approaches, there is still uncertainty surrounding the outcome. While last-minute amendments to filings may cause concern, analysts believe they are not indicative of a delay. The approval of a spot Bitcoin ETF is seen as inevitable by former SEC chair Jay Clayton. However, current SEC chair Gary Gensler warns investors about potential non-compliance with securities laws and the risks associated with fraudulent activities in the crypto space. As we await the final decision, the crypto community eagerly anticipates the potential for a Bitcoin ETF.
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