Franklin

United

Bitcoin

Spot

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<ul>
 <li>According to Hester Peirce, the regulatory body no longer has the responsibility to delay the approval of exchange-traded funds (ETFs) for major crypto companies.</li>
 <li>Approval rumors, following a false report in October, influenced the BTC market price and continued the bull rally after a correction pullback.</li>
 <li>In light of these pending approvals, Peirce was asked whether Grayscale’s ETF application would pass the checklist, but she avoided answering.</li>
</ul>
<p><strong>SEC may not want to delay spot Bitcoin ETFs any further: Court outcome and recent developments will shape what course the SEC will follow!</strong></p>
<h2 id="strong-sec-may-not-further-delay-spot-bitcoin-etfs-strong"><strong>SEC May Not Further Delay Spot Bitcoin ETFs</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>According to SEC Commissioner Hester Peirce, as per recent reports, the regulatory body no longer has the responsibility to delay the approval of exchange-traded funds (ETFs) for major crypto companies. The approval rate for ETFs has increased following the commissioner’s statements, confirming significant crypto sensitivity to major crypto companies embracing these ETFs rather than futures.</p>
<p>This year witnessed a swing in digital currency movements amidst legal issues and recent market turmoil. Key contributing actions to this swing include the long-awaited ETF approval all year and the recent confirmation that has driven the crypto community crazy.</p>
<p>The crypto community, especially for spot Bitcoin ETFs, has long been waiting for approval from the U.S. Securities and Exchange Commission (SEC) for spot exchange-traded funds. Approval rumors influenced the BTC market price in October following a false report, and the bull rally continued after a correction pullback.</p>
<p>During the time Hester Peirce made her statements, Bitcoin rose from its October low of $26,750 to $37,490. This occurred after the period when Peirce shared her views in an interview published on Wednesday. Records show a 40% increase in its price during the last month. In an interview with Kailey Lenzi, the SEC commissioner stated:</p>
<blockquote>
 <p>“I’ve thought for a couple of years that there’s no reason to stand in the way of a spot Bitcoin exchange-traded product. […] We’ve pushed it a little bit in court. And we’ll see where we go from here.”</p>
</blockquote>
<p>Peirce mentioned that the delay in the approval of spot Bitcoin ETFs by the SEC is capricious and pointed out that this situation is related to the pending Grayscale Investment Bitcoin ETF. Referring to the United States Court of Appeals, Peirce stated that the rejection decision would be arbitrary.</p>
<p>The crypto community also embraced her views, and fans commented on her opinions. Crypto analyst Michael van de Poppe said Peirce’s statements are “very positive news.” The analyst also added that Bitcoin is approaching a resistance level, and according to other expert market predictions, it could reach fresh highs.</p>
<h2 id="strong-movements-around-expected-spot-bitcoin-etfs-strong"><strong>Movements around Expected Spot Bitcoin ETFs</strong></h2>
<p>Currently, the SEC is reviewing 12 amended applications for spot Bitcoin exchange-traded funds. Some fans said the regulatory body could approve at least 9 out of the total applications. Currently, there are 14 regulated companies awaiting approval from the SEC. Among these companies are Grayscale Investments, BlackRock, Invesco, ARK Invest, along with 21Shares, VanEck, Bitwise, Valkyrie, Fidelity, Wisdomtree, Hashdex, Franklin Templeton, and Global X ETFs.</p>
<p>In light of these pending approvals, Peirce was asked whether Grayscale’s ETF application would pass the checklist, but she avoided answering, saying, “Right now, all of these are under consideration, so I can’t talk about them.” These statements also increased investor confidence in Bitcoin, and investment capital is expected to flow into the crypto market, particularly focusing on Bitcoin ETFs.</p>
<p>However, ARK Invest’s Cathie Woods and expert analysts on Bloomberg are awaiting simultaneous approval from the regulator. The SEC missed the window to approve all ETFs by not approving them this month. The regulatory authority, with delayed announcement dates for its expected decisions, has started to recover along with the news.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/sec-has-no-reason-to-further-delay-spot-bitcoin-etfs-heres-why/">SEC Has No Reason to Further Delay Spot Bitcoin ETFs: Here’s Why!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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SEC Has No Reason to Further Delay Spot Bitcoin ETFs: Here’s Why!

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