Bitcoin ETF

Bitcoin

Spot

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 <li>While investors eagerly anticipated the approval of a spot Bitcoin ETF, the SEC’s decision to postpone several spot Bitcoin ETF approval decisions could delay them for at least a few months.</li>
 <li>Several organizations, including leading asset manager BlackRock, applied for ETF approval on November 10, 2023, opening a window for ETF approval.</li>
 <li>Belshe suggested that the close relationship between Coinbase, which serves as the custody partner for most applications, could diminish their chances of approval.</li>
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<p><strong>Positive expectations for spot Bitcoin ETFs have turned into uncertainty as the SEC remains determined to delay approval decisions, keeping investors waiting!</strong></p>
<h2 id="strong-expectations-for-bitcoin-etfs-unfulfilled-again-strong"><strong>Expectations for Bitcoin ETFs Unfulfilled Again</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126552" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>While investors eagerly anticipated the approval of a spot Bitcoin ETF, the SEC’s decision to postpone several spot Bitcoin ETF approval decisions could delay them for at least a few months. This development coincides with a period in which Bitcoin’s price began to show a change in trend, reaching the $37,000 range. However, despite the postponed ETF approval, it appears that this price range is being maintained.</p>
<p>On November 10, 2023, several organizations, including leading asset manager BlackRock, applied for ETF approval, creating a window for ETF approval. Naturally, the approval of these ETFs was observed to create a bullish market sentiment since it would significantly increase Bitcoin’s exposure in financial markets. This could potentially act as a catalyst for another market uptrend. However, the SEC’s statement that they will not approve any ETFs at the moment has cast a shadow over these speculations.</p>
<p>While this news may have disappointed many, it was not particularly surprising for a significant group of experts. Bloomberg ETF analyst Eric Balchunas noted that the delays in approvals did not mean they would not happen; it simply meant the SEC would review the applications and make approval or rejection decisions later.</p>
<h2 id="strong-growing-concerns-about-current-etf-applications-strong"><strong>Growing Concerns About Current ETF Applications</strong></h2>
<p>One of the reasons for the rejection of many ETF applications in the past was the possibility of market manipulation. The SEC has shown a high level of skepticism towards approvals, a point emphasized by Mike Belshe, the CEO of BitGo. Belshe suggested that the SEC might demand a clearer distinction between these assets before considering approval.</p>
<p>Belshe claimed that Coinbase’s close relationship, as the custody partner for most applications, could diminish the chances of approval. Currently, there is no clear indication from the SEC regarding when they will open the next approval window or what factors they will evaluate during the selection process for the highly anticipated ETF.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/disappointment-as-expectations-for-spot-bitcoin-etfs-remain-unfulfilled-what-happens-now/">Disappointment as Expectations for Spot Bitcoin ETFs Remain Unfulfilled: What Happens Now?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Disappointment as Expectations for Spot Bitcoin ETFs Remain Unfulfilled: What Happens Now?

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