While the number of bitcoin spot ETF applications before the SEC is increasing by the day, the first decision will be made for Bitwise ETP Trust on September 1 following the ARK Invest decision. The regulatory body may reject or accept this application, or postpone it as per the decision of the ARK.
Continuous decisions will come after 1 day.
After the bitwise decision, the expected day will come. The SEC will announce its first decision on BlackRock’s Spot Bitcoin ETF application. Along with BlackRock, decisions will also be taken by VanEck, WisdomTree and Invesco. Here also, postponement, acceptance or rejection decisions can be taken.
High expectations prompt crypto investors to pay close attention to these dates. However, experts consider the SEC’s approval rate to be low. Still, the sheer size of BlackRock, which manages more than $10 trillion in assets and has accepted all but one of hundreds of ETF applications so far, raises hopes.
James Seifert, one of Bloomberg’s leading ETF analysts, also said he is waiting for a decision on deferring applications. Writing a report in the past weeks in which he said he sees a 65% chance of bitcoin spot ETF applications being accepted in 2023, Seifert said:
“Probably there will be a postponement decision. That’s what we hope for. The only event that might change our mind here is the decision against the SEC in the Grayscale case. Still, even if such a decision is made, I expect the SEC to delay it. But even if the decision of acceptance is made, it will be made in the same way.
As is known, in June last year, Grayscale Company filed a lawsuit against the institution after the SEC responded “no” to its request to convert GBTC shares into an ETF.
Crypto investors have been waiting for SEC approval for a bitcoin ETF for several years. The institution, which has so far consistently rejected spot ETF applications, accepted bitcoin futures ETFs for the first time in October and November of 2021.
SEC Chairman Gary Gensler claims that the Spot Bitcoin ETF is too open to manipulation, and therefore these funds cannot be accepted in their current form.
Many experts also say that Gary Gensler’s seat is in danger.
It was published: