⏰ Act Early, Profit Big!
Be among the first to access the newest altcoins. Don't miss out, click now!

Crucial Dates Ahead for Bitcoin ETFs: Decisions Looming

  • The number of Bitcoin spot ETF applications before the SEC is increasing daily, with the first decision to be made for Bitwise ETP Trust on September 1.
  • Following the Bitwise decision, the SEC will announce its initial decision on BlackRock’s spot Bitcoin ETF application, along with decisions for VanEck, WisdomTree, and Invesco.
  • Despite high expectations, experts believe the SEC’s acceptance rate for these applications is low, although the size of BlackRock, which manages over $10 trillion in assets and has had all but one of its hundreds of ETF applications accepted, gives hope.

The article discusses the increasing number of Bitcoin spot ETF applications before the SEC, with decisions to be made for Bitwise ETP Trust, BlackRock, VanEck, WisdomTree, and Invesco. Despite high expectations, experts predict a low acceptance rate, although the size of BlackRock, which manages over $10 trillion in assets, provides some optimism.

Bitcoin Spot ETF Applications Surge

There has been a notable increase in the number of Bitcoin spot ETF applications submitted to the SEC. The first decision will be made for Bitwise ETP Trust on September 1. The SEC has the power to either approve or reject this application, or it may choose to delay the decision, as it did with the ARK decision.

You can check the Bitcoin ETF Dates.

Decisions Awaited for Major Applications

Following the decision on the Bitwise application, the SEC will announce its initial decision on BlackRock’s spot Bitcoin ETF application. Decisions for VanEck, WisdomTree, and Invesco will also be made. These decisions could result in approval, rejection, or delay. Despite the anticipation surrounding these dates, experts believe the SEC’s acceptance rate for these applications is low. However, the size of BlackRock, which manages over $10 trillion in assets and has had nearly all of its hundreds of ETF applications accepted, provides some optimism.

Expectations of Delay

James Seyffart, a prominent ETF analyst at Bloomberg, expects a delay in the decisions for these applications. Seyffart previously wrote a report stating that he sees a 65% chance of Bitcoin spot ETF applications being accepted in 2023. He believes that the only event that could change his opinion is a decision against the SEC in the Grayscale case. However, even if such a decision were made, he still expects the SEC to delay. If an approval decision were to be made, he believes it would only happen in this manner.

Conclusion

Cryptocurrency investors have been waiting for years for the SEC to approve Bitcoin ETFs. So far, the agency has consistently rejected spot ETF applications, although it accepted Bitcoin futures ETFs for the first time in October and November 2021. SEC Chairman Gary Gensler claims that spot Bitcoin ETFs are too susceptible to manipulation and cannot be accepted in their current form. Many experts also suggest that Gensler’s position may be at risk.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Grinex and Russian-Backed Stablecoins Drive $4.2B Crypto Surge in Kyrgyzstan Amid Sanctions

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Justin Sun Withdraws 60,000 ETH Worth $226 Million from Binance, Whale Alert Reports

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Big Investors Take Profits on Ethereum (ETH) Positions Averaging $2,940, Netting $2.63 Million

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Over 913,000 ETH Worth $4.3 Billion Permanently Lost, Highlighting Major Ethereum Supply Destruction

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Hyper Boosts Bitcoin Short Position by $5.17M Amid Top Win Rate Surge

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

PYTH Price Consolidates Near $0.1260 Amid Low Volume and Mixed Momentum Signals

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Tron (TRX) Could See Increased Interest If Spot ETF Gains Approval, Analysts Suggest

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin Approaches $118,000 Amid Growing Institutional Inflows and New Spot ETFs

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin Faces Key Resistance Near $118K as Metrics Suggest Possible Short-Term Correction

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Justin Sun’s $226 Million Ethereum Transfer Sparks Speculation on Potential Market Impacts

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin ETF Inflows Decline as Ethereum Gains Ground and Utility Cryptos Like Remittix Emerge

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Blockscape Increases Ethereum Stake by 140 ETH, Potentially Joining Top 50 Validators

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

James Wynn Closes PEPE and ETH Trades With $546,000 Profit, Shifts Focus to DOGE Amid Meme Coin Volatility

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img