Bitcoin ETF

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<p>The post <a href="https://coinpedia.org/news/spot-bitcoin-etf-approval-in-doubt-as-sec-considers-more-time-for-spot-bitcoin-etfs/">Spot Bitcoin ETF Approval in Doubt? as SEC Considers ‘More Time’ For Spot Bitcoin ETFs</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bloomberg ETF analyst Eric Balchunas, the Securities and Exchange Commission (SEC) might opt for “more time” rather than outright rejection when it comes to Spot Bitcoin exchange-traded funds (ETFs).</p> 
<h2 class="wp-block-heading" id="h-the-rug-pull-scenario">The “Rug Pull” Scenario</h2> 
<p>While Bloomberg ETF analyst Eric Balchunas and fellow analyst James Seyffart maintain a 90% chance of approval by January 10, the remaining 10% factor in the possibility of the SEC wanting additional time rather than delivering a definitive rejection.&nbsp;</p> 
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   <p lang="en" dir="ltr">New Research note from me today. We still believe 90% chance by Jan 10 for spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETF approvals. But if it comes earlier we are entering a window where a wave of approval orders for all the current applicants *COULD* occur <a href="https://t.co/u6dBva1ytD">pic.twitter.com/u6dBva1ytD</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1722321412218638632?ref_src=twsrc%5Etfw">November 8, 2023</a>
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<p>Balchunas cautions that if the approval doesn’t come within the next two weeks, it might be attributed to the SEC needing more time, describing such a move as the “rug pull of the decade.”</p> 
<p>Balchunas emphasizes that the substantial effort invested by both the SEC and <a href="https://coinpedia.org/news/spot-bitcoin-etf-approvals-td-cowen-cites-political-necessity-for-sec-action/">Bitcoin ETF</a> issuers makes an outright rejection at the last moment improbable. He acknowledges the dedication demonstrated during the holiday season, describing it as a significant undertaking.</p> 
<p>“This would be the rug pull of the decade. Everybody put in a lot of work in this, especially over the holidays. Sadistic might not even be strong enough a word for it,” notes Balchunas.</p> 
<h2 class="wp-block-heading" id="h-calls-for-rejection">Calls for Rejection</h2> 
<p>In the event of an outright denial, Balchunas <a href="https://coinpedia.org/news/sec-will-reject-bitcoin-spot-etfs-again-says-matrixport-report/">speculates</a> that fund issuers might take legal action against the SEC, similar to the response of crypto asset manager Grayscale in the past.&nbsp;</p> 
<p>He believes that the substantial investments and efforts made in the ETF pursuit would likely result in a vehement response, stating, “I don’t even think there’d be a cooling-off period this time. I think there’d be hell.”</p> 
<p>As the SEC continues to collect public feedback on the filings, recent submissions express a desire for outright rejection. One <a href="https://www.sec.gov/comments/sr-cboebzx-2023-028/srcboebzx2023028.htm">letter, received</a> on January 2, argues that Bitcoin’s decentralized nature could attract authoritarian regimes seeking to evade sanctions and exert control.</p> 
<p>The tension builds as the crypto community waits on the SEC’s decision, with the potential for a ‘more time’ stance adding an extra layer of uncertainty to the already intense spotlight on Spot Bitcoin ETFs. The outcome of this regulatory drama could have far-reaching implications for the crypto landscape.</p>

Spot Bitcoin ETF Approval in Doubt? as SEC Considers ‘More Time’ For Spot Bitcoin ETFs

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