The United States Securities and Exchange Commission (SEC) has recently issued additional comments on the pending S-1a applications of various Bitcoin ETF applicants. This move, while potentially seen as a sign of delay, is actually a standard part of the regulatory process, often necessitated by ongoing amendments such as fee structures.
Bloomberg expert James Seyffart has affirmed that the SEC’s request for further comments is routine and not necessarily indicative of a delay. Seyffart’s tweets suggest that more amendments are to be expected, but this does not necessarily signal a delay in the process.
However, Fox Business Journalist Eleanor Terrett has a contrasting view. She suggests that the SEC’s 5-member commission could potentially delay the approval of a Bitcoin Spot ETF. Terrett points out that each commissioner has the right to request a full commission vote on the ETF, which could prolong the process, even if approval had been granted through delegated authority.
Despite these differing perspectives, the SEC faces a deadline of January 10, 2024, to make a decision on these applications. The applicants, including major players like BlackRock, have maintained a composed stance amidst these developments.
As previously reported, the Bitcoin community, particularly those managing billion-dollar portfolios, has been actively developing strategies to engage in the market independent of the conventional SEC approval for ETFs. This approach includes exploring alternative investment vehicles and leveraging international markets with different regulatory frameworks, thereby mitigating the reliance on the SEC’s approval process for ETFs.
Even in the event of a delay, experts believe that it would not adversely impact the BTC price. Rather, it might act as a catalyst, potentially triggering a ‘fear of missing out’ (FOMO) phenomenon and driving the BTC price higher. Amidst these developments, the Bitcoin market has seen a surge, with its price exceeding $47,000, signaling a positive sentiment in the overall market.
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This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Eleanor Terrett, James Seyffart |
| Companies | Fox Business, Crypto News Flash, Bloomberg, United States Securities and Exchange Commission, BlackRock |
| Currencies | Bitcoin |
| Securities | None |
