The SEC ruled on Arc21Shares’ bitcoin spot ETF application on Friday last week. delayed.
It was already an expected decision, but there was speculation that the next decision would be in 2024, especially on social media. As Bloomberg analyst James Seifert points out, the SEC has nine ETF applications to decide before 2024.
In addition to accepting any one of these applications, the SEC may accept all of them at the same time. If accepted then this is the expectation.
This week: SEC vs. Grayscale lawsuit
Also, spot ETFs can be accepted by court order.
The court is expected to announce its decision this week regarding Grayscale’s lawsuit with the SEC. Fortune editors are closely following this expectation with the court Jeff Roberts shared. If the court finds Grayscale right, the way for spot ETF applications will open.
Hence spot ETF applications can be accepted before 2024.
conclusion
The SEC has filed the application of Arch. Delayed, refused.
The SEC can delay this filing until at most January 1, 2024. All subsequent BlackRock filings have been updated as requested by the SEC. Therefore the SEC needs to come up with a new reason (the ‘excuse’) for rejecting the application. The decision of 1 January 2024 is very important, because after the Blackrock application, this possibility is over.
However, as I said, within this week, a court decision could open the way for ETF approvals.
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