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The post <a rel="nofollow" href="https://coinpedia.org/news/secs-decision-on-bitcoin-etf-approval-john-deaton-shares-two-possible-scenarios-2/">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> 
The cryptocurrency world awaits the <a href="https://twitter.com/SECGov">Securities and Exchange Commission</a> (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. In contrast, others are less optimistic, believing that the SEC might gather more information to deny the proposal. 
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. 
<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> 
<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 approve the Bitcoin ETF before the year’s end or during the first quarter of 2024. Alternatively, Deaton speculates that the SEC might utilize this time to gather additional data and formulate new grounds for denying the ETF proposal. 
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. 
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 market manipulation and volatility concerns. 
The fate of the Bitcoin ETF remains uncertain. Still, 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.

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

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