Bitcoin ETF

Bitcoin

Spot

James

We are talking about how the spot <a href="http://en.coin-turk.com/the-future-of-bitcoin-halving-event-and-miners-price-predictions/" data-wpel-link="internal">Bitcoin</a> ETF approval process is progressing differently from previous periods. Especially after the conclusion of the Grayscale case, the SEC’s argument for rejection, which it always used, became meaningless. As a result, the institution had to strengthen its communication with potential issuers. So what’s happening now? 
Spot Bitcoin ETF and <a href="http://en.coin-turk.com/what-is-ethereum-name-service-ens/" data-wpel-link="internal">Crypto</a> 
Crypto markets are eagerly awaiting the approval of the Spot ETF, which is one of the biggest catalysts for the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">market</a>. This will also increase liquidity entering the market in the medium and long term. Moreover, issuers will have to hold BTC, leading to a scarcity of supply. Currently, there is no approval yet, but there are clear signals of progress in the approval process. This is important for the official approval that Bloomberg experts expect by January 10. 
Bloomberg ETF expert Eric Balchunas wrote the following: 
<blockquote> 
 “I heard that the SEC’s Trading &amp; Markets reached out to exchanges this week regarding spot bitcoin ETF 19b-4s, asking them to create cash (not in-kind) ETFs and asking them to make changes in the next few weeks. This is not unexpected but still a good sign. 
 Brokerages cannot trade bitcoin, so creating cash brings the obligation for issuers to trade with bitcoin and prevents brokerages from having to use unregistered subsidiaries or third-party firms to trade with BTC. 
 Only 2-3 applicants planned to create cash, the rest wanted to make in-kind contributions. So they may have to make adjustments or take the risk of delay. All of this indicates progress and a move in the right direction.” 
</blockquote> 
<img decoding="async" loading="lazy" class="wp-image-277707 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTCUSDT_2023-11-17_20-19-37.png" alt="" width="1283" height="599"> 
Following this announcement, the BTC price rose from $35,980 to $36,780. James Seyffart said: 
<blockquote> 
 “It shows that progress is still ongoing and things are moving forward. Eric’s headline goes into detail about what this means in our view. I repeat, this does not change our possibilities on any issue, it just shows that some things are still ongoing behind the scenes.” 
</blockquote> 
The expectation for ETF approval in the market is based on unprecedented strong communication and progress. The SEC is now closer to approval. Continue Reading: <a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-process-whats-happening-now/" data-wpel-link="internal">https://en.coin-turk.com/spot-bitcoin-etf-approval-process-whats-happening-now/</a>

Spot Bitcoin ETF Approval Process: What’s Happening Now?

COINTURK NEWS

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