Just In: Report Indicates SEC Might Contact Bitcoin ETF Applicants Early Next Week
A source-based report by Reuters noted that the SEC could potentially reach out to the issuers next week. It indicates that a decision might come as early as Tuesday about their clearance to launch.
A potential spot Bitcoin approval, which is anticipated to be a transformative move for the cryptocurrency sector, involves several leading asset management firms. On Friday, applicants like Invesco Galaxy, WisdomTree, Fidelity, BlackRock, Valkyrie, and Bitwise updated their filings with the U.S. Securities and Exchange Commission (SEC) to launch spot Bitcoin exchange-traded funds (ETFs). These last-minute updates also raised expectations of an imminent decision from the SEC.
Industry insiders familiar with the process suggest that firms meeting the filing revision deadline could be poised to launch the ETFs the following week. This is a significant time, as the SEC’s deadline to approve or reject the Ark 21Shares ETF is January 10.
While the readiness of these firms to launch their products indicates a significant step towards crypto, there are critics.
Wall Street’s alleged control over Bitcoin price
Max Keiser, a crypto analyst and influencer with a major social media following, claimed in a post on X that the “13 Bitcoin cash-in, cash-out ETFs” are susceptible to manipulation by the Wall Street. He alleged that figures like Jamie Dimon would have control over Bitcoin’s price until more direct investors like Michael Saylor stepped in. However, his comments were met with skepticism within the crypto community, with some users quickly dismissing his understanding of ETFs.
Meanwhile, others believe the approval of Bitcoin spot ETFs could help in the legitimization and accessibility of cryptocurrencies. Additionally, more than one applicant on Friday disclosed Jane Street and JPMorgan as their Authorized Participants (APs). The crypto sector views the involvement of these banking and trading giants as a potential regulatory influence that could foster market stability while promoting innovation.
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
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.
