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The SEC will force the approval of Bitcoin spot ETFs.

Byadmin

Sep 4, 2023 , ,
SEC заставят одобрить спотовые ETF на биткоин

Goldman analysts claim that after a US judge ruled the SEC’s refusal to establish Grayscale’s bitcoin ETF unconstitutional, the regulator was left with no other option. It will now be “forced” upon the SEC to approve such financial products.

Analysts anticipate that the SEC will accept multiple applications at once, and the regulator needs time to prepare for this. Recently, the regulator postponed making decisions on all applications for the creation of Bitcoin ETFs.

They claimed that rather than providing any particular applicant a head start, the delay “likely indicates the approval of multiple bitcoin spot ETF applications at the same time.”

They also pointed out that if multiple spot cryptocurrency ETFs started to appear at once, prices would drop to entice investors. This will put pressure on Grayscale to abandon plans to convert its GBTC trust into Bitcoin ETFs.

European and Canadian investors have not shown much interest in the bitcoin spot ETFs that have already been introduced in these regions. Additionally, the capitalization of cryptocurrency funds does not rise as a result of money moving from ETFs to gold. Place ETFs Bitcoin is not expected to excite investors in the US.

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