Bitcoin ETF

Bitcoin

James

<p class="is-style-lead">Experts said the SEC could be laying blocks ahead of spot Bitcoin ETF approvals in early January 2024 following early delayed decisions on bids from two potential issuers.</p> 
<p>The U.S. Securities and Exchange Commission (SEC) delayed its decision to approve or disapprove spot Bitcoin ETF applications submitted by trillion-dollar asset manager Franklin Templeton and crypto-native firm Hashdex.&nbsp;&nbsp;</p> 
<p>Per Nov. 28 <a href="https://www.sec.gov/files/rules/sro/cboebzx/2023/34-99030.pdf" target="_blank" rel="noreferrer noopener">filings</a>, the SEC is seeking new commentary for its review of these Bitcoin ETF punts. The news came after America’s securities watchdog disclosed its plan to extend the period for public input back in mid-November 2023.&nbsp;&nbsp;</p> 
<p>A decision on both filings was due Jan. 1, 2024, meaning that the SEC published its delay order weeks before the deadline.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/grayscale-updates-spot-bitcoin-etf-application-after-meeting-with-sec/"> Grayscale updates spot Bitcoin ETF application after meeting with SEC </a> </p> 
<p>ETF expert James Seyffart <a href="https://twitter.com/JSeyff/status/1729589130735096088" target="_blank" rel="noopener">said</a> this early update could be an indicator that the SEC is synchronizing applications ahead of sweeping approvals for all 12 issuers including <a href="https://crypto.news/grayscale-updates-spot-bitcoin-etf-application-after-meeting-with-sec/" target="_blank" rel="noreferrer noopener">BlackRock</a> and <a href="https://crypto.news/bitcoin-etf-desire-narrows-grayscale-gbtc-discount-to-8/" target="_blank" rel="noreferrer noopener">Grayscale</a>.</p> 
<p>The likely approval date remains slated for January’s first few weeks. Notably, these predictions are educated guesses based on the SEC’s procedures and do not reflect an iron-clad timeline for a decision.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Okay. This delay on <a href="https://twitter.com/hashdex?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@hashdex</a> all but confirms for me that this was likely a move to line every applicant up for potential approval by the Jan 10, 2024 deadline. <a href="https://t.co/ZKmVSOQExk" target="_blank">https://t.co/ZKmVSOQExk</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1729589130735096088?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 28, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Despite the news, Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) was up 3% at press time and exchanged hands above $38,000 on crypto exchanges like Binance. The token’s price has experienced three consecutive green months on the back of bullish sentiment surrounding spot Bitcoin ETFs.&nbsp;</p> 
<p>Joshua Lim, former head of derivatives at Genesis, noted that institutional players are taking long positions ahead of a potential SEC approval.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">9/ or perhaps in true crypto fashion we might get a profit-taking derisking event even in advance of the official ETF approval to inflict max pain on lazy longs, followed by a grind higher into the halving (h/t <a href="https://twitter.com/mastermind_cam?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@mastermind_cam</a> for some enlightening conversation around this)</p>— Joshua Lim (@joshua_j_lim) <a href="https://twitter.com/joshua_j_lim/status/1729303044339151020?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 28, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> Read more: <a href="https://crypto.news/sec-commissioner-on-spot-bitcoin-etfs-no-reason-to-block/"> SEC Commissioner on spot Bitcoin ETFs: “No reason to block” </a> </p>

SEC extends comment window for Franklin Templeton and Hashdex Bitcoin ETFs

crypto.news

Andere artikelen gepubliceerd op 28 nov 2023

What is Solana Coin?

Bitcoin (BTC) Price Analysis for November 28

Bybit reaches 20 million active users on its 5th anniversary

Gold Breakout Signals Bitcoin (BTC) Breakdown, Declares Peter Schiff in Epic Prediction

BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints

BitMEX Co-founder Slams Government Treatment of CZ and Binance

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!