Bitcoin’s ETF Momentum Is Stuck
TL;DR
-
We simply took the temperature of the area, and the hope of getting a BTC ETF within the subsequent 6 months or so is beginning to really feel just a little chilly for the primary time in latest reminiscence.
-
Ark Make investments’s utility for a BTC ETF was lately placed on ice by the SEC and gained’t be up for evaluate for one more 8 weeks.
-
In a former SEC legal professional’s opinion, the SEC in its present standing is unlikely to grant the Bitcoin ETF everyone seems to be hoping for. Based on Mr. Stark, if we wish an ETF – we’ll have to attend for a change in authorities (and SEC chair).
Full Story
Time for our bi-weekly (ish) test in with Bitcoin – or extra particularly, the lengthy awaited Bitcoin Alternate Traded Fund (ETF).
For these of you enjoying at house:
A Bitcoin ETF would imply inventory merchants might basically purchase Bitcoin by way of the US inventory market, which might deliver a whooole bunch of cash into crypto.
That may be nice! What’s not nice is…
We simply took the temperature of the area, and the hope of getting a BTC ETF within the subsequent 6 months or so is beginning to really feel just a little chilly for the primary time in latest reminiscence.
Ark Make investments’s utility for a BTC ETF was lately placed on ice by the SEC and gained’t be up for evaluate for one more 8 weeks.
Certain, this response from the SEC was extra of a ‘perhaps later,’ than it was a straight up ‘NO!’
…however Ark’s utility was initially filed all the best way again in 2021.
(That is a really lengthy ‘perhaps later’ interval).
However okay, nice – not the top of the world. We are able to powerful it out. Persistence is a advantage and all that…
Enter: John Reed Stark. He is a former SEC legal professional, and he comes bearing not-so-great information.
In JRS’s opinion, the SEC in its present standing is unlikely to grant the Bitcoin ETF everyone seems to be hoping for. Based on Mr. Stark, if we wish an ETF – we’ll have to attend for a change in authorities (and SEC chair).
See what we imply?
It isn’t like our hopes of a Bitcoin ETF are fully frozen…
However they might do with a jacket.
