Bitcoin ETF

Bitcoin

<p>The post <a href="https://coinpedia.org/news/secs-decision-on-bitcoin-etf-an-analyst-gives-a-closer-look-and-unpacks-the-latest-ongoing-developments/">Are People Against Bitcoin Spot ETFs? Public Feedback Rolls In as SEC Approval Looms</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency world is on edge as the <a href="https://coinpedia.org/news/secs-decision-on-bitcoin-etf-an-analyst-gives-a-closer-look-and-unpacks-the-latest-ongoing-developments/">Securities and Exchange Commission (SEC)</a> prepares to decide on a <a href="https://coinpedia.org/news/bitcoin-bulls-eye-70250-as-analysts-predict-price-surge-amid-etf-anticipation/">spot Bitcoin ETF</a>. While many are hopeful for approval, there are still concerns that need addressing.</p> 
<p>This article will delve into the latest developments and insights from industry experts to provide a comprehensive overview of the current situation.</p> 
<h2 class="wp-block-heading" id="h-understanding-sec-s-past-stance-on-bitcoin-etfs">Understanding SEC’s Past Stance on Bitcoin ETFs</h2> 
<p>The SEC has previously turned down several Bitcoin ETF applications due to worries about market manipulation and Bitcoin’s volatility. They’ve also viewed Bitcoin ETFs as a new and vulnerable asset. However, recent moves by big players like <a href="https://www.sec.gov/comments/sr-cboebzx-2023-044/srcboebzx2023044-308919-795162.pdf">Fidelity</a> and <a href="https://www.sec.gov/Archives/edgar/data/1838028/000093041323002392/c106800_s1a.htm">VanEck</a> to propose Bitcoin ETFs have stirred new hopes.</p> 
<p><img decoding="async" src="https://lh7-us.googleusercontent.com/umFsIt-3D7YlLJbU3CJDmrJ37mEI9crZUpa81NYqd5jk-MVCIQcW7_jY996Ij7dcXsa4lMlVcU8SB4ppwnOJK2VQYbWrjN9mmW8p-hlEK8R-lJL_2LbOJkHO0buynp7dxlgJja9J4_IaNB45m9OP8uA" width="537" height="304"></p> 
<p>Unlike earlier proposals, these new ones are focused on physically-backed Bitcoin ETFs. This means investors could trade shares that closely follow Bitcoin’s price.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/sec-decision-on-bitcoin-etf-applicants-expected-by-january-4-hinted-by-a-giant-investment-firm/">SEC Approval for Spot Bitcoin ETFs Expected in JUST 2 Days, Hints Giant Investment Firm</a></p> 
<h2 class="wp-block-heading" id="h-expert-views-an-array-of-predictions">Expert Views: An Array of Predictions</h2> 
<p>Many prominent analysts predicted and anticipated recent matters. However, recently, Bloomberg ETF analyst Eric Balchunas said that while it’s unlikely, there is still a 10% chance that the SEC could hand down the “rug pull of a decade.”</p> 
<p>Balchunas thinks a full rejection this month is unlikely. Instead, he suggests the SEC might want more time for review, rather than a simple no. He shared this view in a talk with Cointelegraph.</p> 
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   <p lang="en" dir="ltr">Been asked few times how long after launch until options are available for bitcoin ETFs. For <a href="https://twitter.com/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITO</a> it was basically immediate (see below tweet one day after launch). That said, it had whole mkt to itself but still will prob happen quickly (at least for ones w organic volume) <a href="https://t.co/KUYgXw1BVp">https://t.co/KUYgXw1BVp</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1742267568155468288?ref_src=twsrc%5Etfw">January 2, 2024</a>
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<p><strong>Potential Legal Actions on the Horizon?</strong></p> 
<p>Balchunas claims this worry is the main reason he and colleague ETF analyst James Seyffart haven’t increased the odds past the 90% possibility of acceptance by January 10.</p> 
<p>Eric explained that the amount of time and examination put in by the SEC and Bitcoin ETF Issues means it’s unlikely that a Bitcoin ETF would be rejected outright at the last moment.&nbsp;</p> 
<p>He later added that if the SEC issues a complete denial, fund issuers might follow in the footsteps of crypto asset manager Grayscale and launch a separate lawsuit against the regulators.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“People have spent too much money and tried too hard to give up now. So yeah, it would not be over. I don’t even think there’d be a cooling-off period this time. I think there’d be hell,”</em></p> <cite><a href="https://twitter.com/EricBalchunas">Eric Balchunas</a></cite>
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<h2 class="wp-block-heading" id="h-the-public-speaks-out">The Public Speaks Out </h2> 
<p>Two groups have recently given <a href="https://www.sec.gov/comments/sr-cboebzx-2023-028/srcboebzx2023028.htm">feedback</a> to the SEC, urging caution on the Bitcoin ETF proposal by January 2. One argument made is that Bitcoin’s decentralized nature might attract regimes looking to bypass sanctions or exert more control over their citizens.</p> 
<p><img decoding="async" width="523" height="261" src="https://lh7-us.googleusercontent.com/qicIYz9v5-y0kg4MSwWnV-Q9S-oEvWPcRW3I7VTTuNh-6aMZNKyyxZYMxX0XG54zJUM1EOa7_yqSXy8cBeNpv2iMA7O1Kcx5xL8lLPmFIXD7cL3eblORCkJ7oCbAmbsYZGLIu_LvWBDvoBe-VkUXeGE"></p> 
<p>As we approach the SEC’s decision date, the cryptocurrency community is watching closely. The outcome could have significant implications for the future of digital assets.</p> 
<p>Read More: <a href="https://coinpedia.org/news/bitcoin-may-see-a-potential-crash-after-etf-approval-alex-kruger/">Bitcoin May See a Potential Crash After ETF Approval: Alex Kruger</a></p>

Are People Against Bitcoin Spot ETFs? Public Feedback Rolls In as SEC Approval Looms

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