The SEC Holds Meetings with Major Exchanges to Discuss Bitcoin ETFs
The US Securities and Exchange Commission (SEC) is currently in talks with major exchanges, including the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), regarding spot Bitcoin exchange-traded funds (ETFs). This news comes as a relief to the crypto community after reports of a possible rejection of all ETF applications circulated earlier. The market experienced a significant liquidation, losing over $540 million in just four hours.
Bloomberg Analysts Dispute Reports of ETF Rejection
Despite the earlier reports, analysts from Bloomberg have stated that there is no substantial evidence suggesting a rejection of the ETFs. They have not found any concrete indications that the SEC will deny the applications.
Debate Between Bloomberg Analyst and Matrixport Researcher
A debate between Bloomberg analyst Eric Balchunas and Matrixport researcher Markus Thielen took place on Twitter. Thielen clarified that his report was not based on insider information or SEC comments but rather on consensus among researchers. He has turned bearish on Bitcoin as a result.
An Optimistic Outlook for Bitcoin ETF Approval
Despite conflicting reports, today’s meetings between the SEC and major exchanges suggest a more optimistic outlook for spot Bitcoin ETF approval. Market expectations point to a possible approval by the SEC as early as the following week, with January 10th being a critical date for many ETF applicants.
Hot Take: Spot Bitcoin ETFs May Soon Gain Approval from the SEC
Recent meetings between the US Securities and Exchange Commission (SEC) and major exchanges have brought hope for spot Bitcoin exchange-traded funds (ETFs). After initial concerns about potential rejections, Bloomberg analysts dispute these claims, stating that there is no substantial evidence to support them. A debate between Bloomberg analyst Eric Balchunas and Matrixport researcher Markus Thielen added to the confusion, with Thielen clarifying that his report was based on consensus among researchers rather than insider information. Despite the uncertainty, today’s meetings indicate a more positive outlook for Bitcoin ETF approval, aligning with market expectations. The SEC may potentially approve spot Bitcoin ETFs as early as next week, with January 10th being a crucial deadline for applicants.
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