SEC Decision on Bitcoin ETFs: An Analysis of Potential Outcomes
The United States Securities and Exchange Commission (SEC) is facing its first deadlines to decide on seven new Bitcoin (BTC) spot exchange-traded fund (ETF) applications. Investment firm Bitwise, BlackRock, VanEck, Fidelity, Invesco, Wisdomtree, and Valkyrie are awaiting the SEC’s decision by various dates in the next few days. Analysts suggest that the recent ruling in favor of Grayscale Investments increases the chances of a successful outcome for these applicants. The SEC has several options post-Grayscale decision, including appealing to the U.S. Supreme Court or applying for an En banc review. The regulator may also concede defeat and approve Grayscale’s conversion of its GBTC to a Bitcoin spot ETF. Alternatively, it could revoke the listing of Bitcoin futures ETFs or deny Grayscale’s application based on a new argument. The SEC’s decision is eagerly awaited by the cryptocurrency community.
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