United

Bitcoin ETF

Bitcoin

Gary

<p>The post <a rel="nofollow" href="https://coinpedia.org/bitcoin/secs-decision-on-bitcoin-etf-approval-john-deaton-shares-two-possible-scenarios/">SEC’s Decision on Bitcoin ETF Approval: John Deaton Shares Two Possible Scenarios!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<h2 class="wp-block-heading" id="h-the-cryptocurrency-world-awaits-the-securities-and-exchange-commission-sec-decision-on-the-bitcoin-exchange-traded-fund-etf-with-bated-breath-analysts-opinions-are-divided-with-some-speculating-that-the-sec-may-have-already-yielded-to-market-pressure-and-approved-the-etf-while-others-are-less-optimistic-believing-that-the-sec-might-be-gathering-more-information-to-deny-the-proposal"><strong>The cryptocurrency world awaits the <a href="https://twitter.com/SECGov">Securities and Exchange Commission</a> (SEC) decision on the <a href="https://twitter.com/BTC_Archive/status/1716439624380256443">Bitcoin Exchange Traded Fund</a> (ETF) with bated breath. Analysts’ opinions are divided, with some speculating that the SEC may have already yielded to market pressure and approved the ETF, while others are less optimistic, believing that the SEC might be gathering more information to deny the proposal.</strong></h2> 
<h2 class="wp-block-heading" id="h-notably-asset-management-giants-blackrock-and-fidelity-investment-are-competing-to-offer-a-spot-bitcoin-etf-in-the-u-s-a-development-that-could-significantly-impact-cryptocurrency-prices-fidelity-has-recently-submitted-an-updated-spot-bitcoin-etf-prospectus-to-the-sec"><strong>Notably, asset management giants BlackRock and Fidelity Investment are competing to offer a spot Bitcoin ETF in the U.S., a development that could significantly impact cryptocurrency prices. Fidelity has recently submitted an updated spot Bitcoin ETF prospectus to the SEC.</strong></h2> 
<h2 class="wp-block-heading" id="h-john-e-deaton-a-prominent-crypto-commentator-offers-two-possible-scenarios-for-the-sec-s-decision">John E. Deaton, a prominent crypto commentator, offers two possible scenarios for the SEC’s decision:</h2> 
<h2 class="wp-block-heading" id="h-deaton-suggests-that-the-sec-may-have-acquiesced-to-the-demand-and-could-potentially-approve-the-bitcoin-etf-either-before-the-year-s-end-or-during-the-first-quarter-of-2024-alternatively-deaton-speculates-that-the-sec-might-be-utilizing-this-time-to-gather-additional-data-and-formulate-new-grounds-for-denying-the-etf-proposal"><strong><a href="https://twitter.com/JohnEDeaton1/status/1716451851116085283?t=xUnG4_IKgwLAoSaN_B9Reg&amp;s=19">Deaton</a> suggests that the SEC may have acquiesced to the demand and could potentially approve the Bitcoin ETF either before the year’s end or during the first quarter of 2024. Alternatively, Deaton speculates that the SEC might be utilizing this time to gather additional data and formulate new grounds for denying the ETF proposal.</strong></h2> 
<h2 class="wp-block-heading" id="h-deaton-acknowledges-that-the-sec-has-a-history-of-creating-uncertainty-and-altering-its-stance-making-it-difficult-to-predict-the-outcome-accurately-he-cautions-that-the-result-may-not-be-as-favorable-as-some-investors-hope-however-deaton-also-highlights-the-influential-roles-of-larry-fink-and-gary-gensler-both-major-applicants-and-proponents-of-the-etf-which-could-sway-the-sec-toward-approval"><strong>Deaton acknowledges that the SEC has a history of creating uncertainty and altering its stance, making it difficult to predict the outcome accurately. He cautions that the result may not be as favorable as some investors hope. However, Deaton also highlights the influential roles of Larry Fink and<a href="https://twitter.com/GaryGensler"> Gary Gensler</a>, both major applicants and proponents of the ETF, which could sway the SEC toward approval.</strong></h2> 
<h2 class="wp-block-heading" id="h-the-cryptocurrency-industry-has-witnessed-prolonged-debates-surrounding-the-approval-of-a-bitcoin-etf-a-topic-that-has-captivated-stakeholders-for-years-many-investors-view-it-as-a-critical-step-towards-legitimizing-cryptocurrency-and-bringing-it-closer-to-mainstream-adoption-the-sec-has-previously-rejected-multiple-proposals-citing-concerns-related-to-market-manipulation-and-volatility"><strong>The cryptocurrency industry has witnessed prolonged debates surrounding the approval of a Bitcoin ETF, a topic that has captivated stakeholders for years. Many investors view it as a critical step towards legitimizing cryptocurrency and bringing it closer to mainstream adoption. The SEC has previously rejected multiple proposals, citing concerns related to market manipulation and volatility.</strong></h2> 
<h2 class="wp-block-heading" id="h-the-fate-of-the-bitcoin-etf-remains-uncertain-but-the-crypto-community-investors-and-industry-participants-eagerly-await-the-sec-s-decision-which-could-potentially-reshape-the-future-of-cryptocurrency-in-the-united-states"><strong>The fate of the Bitcoin ETF remains uncertain, but the crypto community, investors, and industry participants eagerly await the SEC’s decision, which could potentially reshape the future of cryptocurrency in the United States.</strong></h2>

SEC’s Decision on Bitcoin ETF Approval: John Deaton Shares Two Possible Scenarios!

Table of Contents

CoinPedia News

Other articles published on Oct 24, 2023

Stablecoins Surpass Mastercard and PayPal in Transaction Volume While U.S. Fails to Maintain Lead...

What Digital Currency Group’s Q3 revenue tells us

Bitcoin Gains $17,944 YTD, Breaks 13-Month High Amid ETF Frenzy

Crypto-related stocks soar as Bitcoin gains 10% on the day

Former Israeli Military Intel Personnel Launch New Crypto Firm Blockaid with $33 Million in Fundi...

dYdX Chain v1.0 Officially Released

Join our free newsletter for daily crypto updates!