Bitcoin ETFs Poised for a Surge as SEC Anticipates Approval on Thursday Morning (Or Does It?)
Important Announcement: Potential Approval of Spot Bitcoin ETFs by SEC Tomorrow (Jan 11th), Anticipating Potential Market Surge
Key Takeaways:
– Potential approval of spot Bitcoin ETFs by the SEC tomorrow (Jan 11th) could lead to a significant market surge.
– Positive indicators include SEC-issuer interactions, a statement from Jay Clayton, and competitive fee structures from Bitwise, Ark 21Shares, and VanEck.
– However, the Chamber of Digital Commerce warns of potential delays under the leadership of Gary Gensler.
Get ready for an important date, January 10th, as it could mark a significant milestone for spot Bitcoin exchange-traded funds (ETFs). If everything goes as planned, the crypto market may experience a surge in trading by Thursday morning!
Excited? You should be! Here are all the details you need to know.
SEC’s Potential Approval:
The crypto community is abuzz with speculation that the U.S. Securities and Exchange Commission (SEC) may grant approval for spot Bitcoin ETFs as early as Wednesday. This move could pave the way for multiple issuers to launch their ETFs by Thursday.
Industry experts are closely monitoring the SEC’s 19b-4 filings, considering them crucial for ETF approval. Positive interactions between the SEC and issuers regarding these filings indicate a favorable environment. Former SEC Chair, Jay Clayton, recently added to the excitement with a statement on CNBC’s Squawk Box.
“Bitcoin ETF approval is inevitable; there’s nothing left to decide.”
Ahead of the SEC’s deadline, attention is also focused on the fee structures offered by ETF issuers. Bitwise stands out with a fee of 0.24%, closely followed by Ark 21Shares and VanEck at 0.25%.
Read More:
SEC Faces Scrutiny After Bitcoin ETF Approval Hoax: Here’s What Really Happened
But Wait… There Might Be Hurdles:
Despite the optimism, Perianne Boring, President of the Chamber of Digital Commerce, warns that the SEC could employ various tactics to delay or block ETF approvals under Chair Gary Gensler’s leadership.
A potential hurdle arises as a 5-member SEC Commission could introduce delays to spot Bitcoin ETF approval. Even for matters granted through delegated authority, each commissioner, including Gary Gensler, Caroline Crenshaw, Hester Peirce, Jaime Lizarraga, and Mark Uyeda, has the right to request a comprehensive examination and commission vote.
Also Read:
Will SEC Delay Spot Bitcoin ETF Approval Due to Hack? Possible Reasons Explained
As the industry eagerly awaits the SEC’s decision, the regulatory landscape remains dynamic. With both challenges and optimism in the air, stakeholders are closely monitoring the unfolding developments.
So, will tomorrow be a groundbreaking moment for Bitcoin ETFs?
We invite you to share your thoughts.