Claim BonusBreaking: 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
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.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Is the Sell-Off Just Starting? BlackRock Bitcoin ETF Sees Records $10B in Notional Volume
- How Low Can Bitcoin Dip- Peter Brandt Predicts Possible BTC Bottom
- Strategy’s Michael Saylor, CEO Phong Le Assure More Bitcoin Buy, No Liquidations Until $8K
- Crypto Market Braces for Deeper Losses as BOJ Board Pushes for More Rate Hikes
- Crypto Prices Drop as U.S. Urges Citizens To Leave Iran
- XRP Price Outlook As Peter Brandt Predicts BTC Price Might Crash to $42k
- Will Cardano Price Rise After CME ADA Futures Launch on Feb 9?
- Dogecoin, Shiba Inu, and Pepe Coin Price Prediction as Bitcoin Crashes Below $70K.
- BTC and XRP Price Prediction As Treasury Secretary Bessent Warns “US Won’t Bail Out Bitcoin”
- Ethereum Price Prediction As Vitalik Continues to Dump More ETH Amid Crypto Crash
- Why XRP Price Struggles With Recovery?
