Bitcoin ETF: Approval or Denial? Magic 8 Ball Says “Outlook Good”

TL;DR

• As we speak (Wed 10) is the day that the Bitcoin ETF is anticipated to be accepted.

• As of this writing (Tue 9), nothing has been confirmed or denied. However there have been a number of optimistic indicators since we final coated the topic.

• For instance: Gary posted a thread on Twitter masking “Some issues to bear in mind in case you’re contemplating investing in crypto property”. These studying the market’s tea leaves took this as a precursory ‘heads up’ to the general public, earlier than the ETF launches.

Full Story

So, at this time (Wed 10) is the day that the Bitcoin ETF is anticipated to be accepted.

As of this writing (Tue 9), nothing has been confirmed or denied. However there have been a number of optimistic indicators since we final coated the topic, like:

• The SEC despatched suggestions to ETF candidates outdoors of enterprise hours on Monday (bureaucrats working outdoors of enterprise hours? That is uncommon!). This might point out a rush to get every software prepared for approval, asap.

• Gary posted a thread on Twitter masking “Some issues to bear in mind in case you’re contemplating investing in crypto property”. These studying the market’s tea leaves took this as a precursory ‘heads up’ to the general public, earlier than the ETF launches.

Hopefully by the point you are studying this, that is all null n’ void!

(And the ETFs have already been accepted!)

However in case we’re nonetheless experiencing radio silence from the SEC, this is some perception from Dave Nadig of VettaFi, that ought to assist to calm any worries…

Talking to the truth that Ark Make investments’s software technically requires a tough “sure” or “no” from the SEC at this time, Dave said:

“I would not be stunned if we noticed this dribbled out to Thursday, Friday…

Perhaps we begin buying and selling [the ETF] on Tuesday/Wednesday subsequent week.”

Pointing to the truth that the SEC has been recognized to delay these ‘ultimate solutions’ for weeks previously, saying:

“It isn’t like there is a regulation the place they seize Gary Gensler and drag him to jail for not assembly a deadline.”

The takeaway:

Authorities strikes sluggish, even when it does not occur at this time/this week/this month – it appears to be like just like the SEC is gearing as much as make it occur finally.