Bitcoin ETF

Gary

<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Before you reading, did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>
<ul>
 <li>Cathie Wood, CEO of Ark Invest, shares interesting insights into how the securities regulator might approach the ongoing process.</li>
 <li>Given SEC Chairman Gary Gensler’s deep understanding of Bitcoin (BTC), according to ARK Invest CEO Cathie Wood, finding a rational explanation for his opposition to a spot ETF is challenging.</li>
 <li>Senior ETF strategist at Bloomberg, James Seyffart, noted the possibility of SEC delay orders as the deadline for three spot Bitcoin ETF applications approaches.</li>
</ul>
<p><strong>The SEC consistently delays all spot Bitcoin ETF applications; what could be the reason behind SEC Chairman Gary Gensler’s delay?</strong></p>
<h2 id="strong-why-is-gensler-stalling-etf-applicants-strong"><strong>Why is Gensler Stalling ETF Applicants?</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-128182" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="SEC" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/SEC-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>After the SEC revealed its views on the approval status of 12 spot Bitcoin ETF applications, Cathie Wood, CEO of Ark Invest, shares interesting insights into how the securities regulator might approach the ongoing process. On November 14, Tuesday, during an interview on CNBC’s Squawk Box program, Cathie Wood stated that Gary Gensler has aspirations to become the Treasury Secretary, and this could be the real reason behind delaying the spot Bitcoin ETF.</p>
<p>Gensler’s hesitation on the spot Bitcoin ETF is based on concerns about potential manipulation, she said. Given SEC Chairman Gary Gensler’s deep understanding of Bitcoin (BTC), according to ARK Invest CEO Cathie Wood, finding a rational explanation for his opposition to a spot ETF is challenging.</p>
<p>Emphasizing the decentralized and transparent nature of the Bitcoin network, Wood stated that manipulation is highly unlikely. Wood drew attention to Gensler’s expertise in this field, as Gensler taught a course on crypto and blockchain at the Massachusetts Institute of Technology (MIT) before assuming the SEC Chairmanship.</p>
<p>Nevertheless, Wood maintains a bullish stance on cryptocurrencies, and she predicts that the ultimate approval of a spot ETF will be one of the catalysts that will turn the current $1 trillion crypto market into a massive opportunity of $25 trillion by 2030.</p>
<h2 id="strong-bitcoin-etf-approval-could-be-near-strong"><strong>Bitcoin ETF Approval Could Be Near</strong></h2>
<p>Last week, the Bitcoin price experienced a significant surge to $37,000 as the window for spot Bitcoin ETF approval opened. The SEC’s decision is expected to be announced on November 17, but the likelihood of further delays by the SEC is high. Bloomberg’s Senior ETF strategist James Seyffart mentioned the possibility of SEC delay orders as the deadline for three spot Bitcoin ETF applications approaches. Despite potential delays, our perspectives and the 90% probability of 19b-4 approval continuing until January 10, 2024, remain unchanged.</p>
<p>Interestingly, BlackRock has addressed some stablecoin risks that could arise with the approval of a spot Bitcoin ETF. BlackRock has highlighted the volatility of stablecoins, emphasizing their potential to cause fluctuations in Bitcoin’s price. While stablecoins have a fixed value pegged to a fiat currency, events like the SVB collapse earlier this year or a banking crisis can lead to the loss of their stable values.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/gary-gensler-why-is-he-delaying-spot-bitcoin-etf-applications-cathie-wood-explains/">Gary Gensler, Why is He Delaying Spot Bitcoin ETF Applications? Cathie Wood Explains!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>

Gary Gensler, Why is He Delaying Spot Bitcoin ETF Applications? Cathie Wood Explains!

Table of Contents

COINOTAG NEWS

Other articles published on Nov 15, 2023

ICON Development Update – October 2023

How Much is a Jersey Mike’s Franchise

Ethereum’s rollups are 'gold standard’ but Plasma needs a revisit: Buterin

What is an appchain and Why is everyone talking about it?

ETH to USD converter tool: exploring Ethereum’s potential

Trader Says Polygon on the Cusp of New Uptrend, Predicts Rallies for THORChain and Ocean Protocol

Join our free newsletter for daily crypto updates!