Breaking: Bitcoin ETF Filers Unswayed By US SEC Comments On S-1s, Approval Ahead?
Applicants for the spot Bitcoin ETF applications are apparently not bothered with the United States Securities and Exchange Commission (SEC) issuing additional comments on their form S-1s. This clarification comes amid fears around the possibility of a delay in approval of ETFs before the January 10, 2024 deadline, owing to the receipt of additional comments just few days before the expected date of approval.
Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?
“No Change Of Plans”
According to Fox Business journalist Eleanor Terrett, people who received the additional comments from SEC are not really worried about the latest development. More importantly, the applicants said that the agency had not conveyed any change of plans in this regard. Hence, it is fair to be confident of an ETF approval before the deadline, which is the last date until the SEC is allowed to take a decision on whether to approve or reject the Ark 21Shares spot Bitcoin ETF.
This comes in line with Bloomberg analyst James Seyffart’s prediction that the issuance of additional comments is not necessarily a move to delay the approval. The SEC had in the last few weeks held several meetings with applicants of the likes of Blackrock, Fidelity and Grayscale over the operational aspects of the ETFs, particularly on its insistence on having the cash creates redemption model with all the applicants.
BTC Price To Breach $50,000?
The Bitcoin Price (BTC) breached the $47,000 mark on January 8, 2024, as traders and investors anticipate the spot ETF approval in next few days. Also, it remains to be seen if the SEC officials would give a green light to the launch of ETF trading immediately after approval. Hence, such an approval could likely trigger a fear of missing out (FOMO) sentiment among investors, leading to a BTC Price jump above $50,000, which could act as a key psychological support to prospective buyers.
Also Read: Thailand Approves ‘Digital Wallet’ Plan of $14Bn Amid Fiscal Debate: Report
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
