Ethereum

Bitcoin

Impact

Gary

<p>The narrative surrounding Bitcoin ETF and Ethereum ETF has become a focal point in the crypto community. The speculated deadline of January 10th is believed to be the ultimate date by which a decision on the Bitcoin ETF will be made, provided all approvals are processed simultaneously.</p> 
<h2 id="h-bipartisan-push-from-house-lawmakers"><strong>Bipartisan Push from House Lawmakers</strong> </h2> 
<p>A bipartisan assembly of House lawmakers is not merely observing from the sidelines. They’ve actively reached out to <a href="https://www.sec.gov/" target="_blank" rel="noreferrer noopener">SEC</a> Chair, Gary Gensler, stressing the urgency for immediate action, especially concerning spot <a href="https://cryptoticker.io/en/top-5-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">Bitcoin ETF</a>.</p> 
<h2 id="h-rejections-leading-to-contention"><strong>Rejections Leading to Contention</strong> </h2> 
<p>The SEC’s recent refusal on various ETF applications has stirred considerable debate. Four influential members of the House Financial Services Committee, including notable figure Rep. Tom Emmer, the majority whip in the House, are urging the SEC to progress with ETF applications without delay.</p>  
<h2 id="h-court-battles-and-their-impact"><strong>Court Battles and Their Impact</strong> </h2> 
<p>This sense of urgency has been exacerbated by the SEC’s recent legal setback regarding their decision to decline Grayscale’s spot Bitcoin ETF application. These lawmakers argue that a spot Bitcoin ETF bears no significant difference from the already-approved crypto futures ETFs. They emphasize that withholding approvals from esteemed applicants like Fidelity, BlackRock’s iShares, and Grayscale Investments is unwarranted.</p> 
<h2 id="h-clarion-call-for-immediate-action"><strong>Clarion Call for Immediate Action</strong> </h2> 
<p>The collective sentiment was encapsulated in a letter from Reps. Mike Flood, Tom Emmer, Wiley Nickel, and Ritchie Torres, which read, “The SEC’s current stance is unviable in the long run. Post the Court of Appeals’ verdict, consistently rejecting these applications based on inconsistent criteria is incoherent.”</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="640" height="481" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/courtroom-898931_640.jpg" alt="" class="wp-image-57539">
</figure> 
<p>Last month’s directive from a D.C. Circuit Court of Appeals judge further emphasized the need for SEC to reassess its position, especially when the Grayscale rejection was labeled “arbitrary and capricious.”</p> 
<h2 id="h-a-waiting-game"><strong>A Waiting Game</strong> </h2> 
<p>Gensler’s forthcoming appearance at an SEC oversight hearing adds another layer of anticipation. It serves as an opportunity for committee members to voice their concerns directly.</p> 
<h2 id="h-promising-prospects-of-etfs"><strong>Promising Prospects of ETFs</strong> </h2> 
<p>Bitcoin and Ethereum ETFs offer a more streamlined entry point into the crypto world, simplifying transactions via easily traded brokerage accounts. With significant figures like Emmer, part of the Congressional Blockchain Caucus, championing these approvals, the crypto community awaits the SEC’s next move with bated breath.</p>

When will SEC Approve Bitcoin ETF and Ethereum ETF?

Table of Contents

CryptoTicker ENG

Other articles published on Sep 27, 2023

Binance raises red flags by selling Russian arm to brand-new CommEX

Dogecoin: Will DOGE Rally by the End of 2023?

Terraform Labs’ defense team says extraditing Do Kwon to the U.S. for SEC testimony is ‘impossible’

Binance claims to operate in 100+ countries but only discloses 45

Marvel’s Spider-Man 2 Will Allow Players to Ride Coney Island Attractions

How Do L2 Networks Impact the Crypto Future?

Join our free newsletter for daily crypto updates!