China News Official TheBitTimes.com

This year, there has been significant buzz surrounding Bitcoin spot exchange-traded funds [ETFs], with many prominent industry participants joining in. The U.S. Securities and Exchange Commission [SEC] is known for its consistent pattern of postponing crypto ETF proposals, and it appears that the trend will continue in 2023. In a notice dated Sept. 26, the SEC announced its intention to extend the timeframe for considering the approval or disapproval. This modification is related to enabling the ARK 21Shares Bitcoin spot ETF to be listed on the Cboe BZX Exchange. The SEC’s filing further read, “The Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change.” The previous extension, granted on Aug. 11, had provided the regulatory authority with a timeframe until Nov. 11 to render a decision concerning approval, disapproval, or an additional delay. It’s worth mentioning that no...

Bitcoin ETF s have been the topic of discussion for quite some time. This has been greatly elevated with the recent decision in the prolonged Grayscale and SEC lawsuit. With the federal court issuing a ruling to the SEC to review its Grayscale application of a Bitcoin ETF , speculation has increased. Also read: Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC In one of the most recent reports, JPMorgan stated that the SEC will likely have to approve multiple Bitcoin spot ETFs, leaving them with no major choice. JUST IN: 🇺🇸 JPMorgan says SEC will likely approve Grayscale's Spot # Bitcoin ETF . — Watcher.Guru (@WatcherGuru) September 3, 2023 Grayscale win puts SEC’s stance on Bitcoin ETFs in jeopardy In JPMorgan ’s view, the implications go beyond just Grayscale’s trust. They believe the SEC would face major disruptions if it tried to deny other spot bitcoin ETF applications after greenlighting Grayscale. As ...

According to Matt Hougan , allowing the launch of multiple ETFs concurrently would be the most beneficial outcome for investors. Citing historical evidence, he highlighted the SEC’s varied approaches to ETFs in the past and stated the unpredictability of their current stance. Hougan, speaking on Bloomberg Television, emphasized that approving several ETFs simultaneously could be in market participants’ best interest. advertisement Conspiracy Theories Surrounding BlackRock’s Move BlackRock’s unexpected decision to file for a Bitcoin ETF in June, considered by many as a non-ideal time given regulatory uncertainties, has raised eyebrows. Speculations abound, with some, like Ric Edelman, founder of the Digital Assets Council of Financial Professionals, musing about possible “back-room” conversations between the SEC and BlackRock. Gary Gensler, the SEC Chair, who has faced criticism for his views on cryptocurrency, is also thought ...

In a new development in the ongoing push for a bitcoin exchange-traded fund (ETF), crypto asset manager Grayscale has won its legal battle against the Securities and Exchange Commission (SEC). On Wednesday, the US Court of Appeals ruled in favor of Grayscale, stating that the SEC must review its previous rejection of the firm’s application to convert its Bitcoin Trust into an ETF. The court vacated the rejection, ordering the agency to reevaluate the decision. Also read: Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC Grayscale’s victory could open the door for Bitcoin ETFs Source: CryptoSlate This ruling opens the door for the creation of the first bitcoin ETF, analysts said in a new report from broker Bernstein. While it does not immediately greenlight Grayscale’s GBTC product to become an ETF, it puts pressure on the SEC to approve one of the many proposed bitcoin ETF applications currently pending review. Analysts predict likely appr...

Crypto asset manager Grayscale recently won a legal case against the Securities and Exchange Commission (SEC) regarding a proposed spot bitcoin exchange-traded fund (ETF). Also read: Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC Earlier, the SEC rejected the crypto asset manager’s application regarding the Bitcoin ETF . However, the US Court of Appeals ruled that the SEC must re-evaluate its initial rejection of Grayscale’s ETF application. Following the major win, Grayscale CEO Michael Sonnenshein recently sat down with Bloomberg News to share his views on the win. JUST IN: Grayscale now closer to a Spot # Bitcoin ETF launch after winning its lawsuit against the SEC, Bloomberg reports. pic.twitter.com/sGfsjHC17h — Watcher.Guru (@WatcherGuru) August 30, 2023 Grayscale is moving closer to a spot Bitcoin ETF During his conversation, Sonnenshein stated that yesterday’s win was the result of a year’s worth of litigation...

Bitcoin exchange-traded funds [ETFs] are still a hot topic of discussion. As the community speculates on the potential approval of these ETFs, a number of analysts are becoming increasingly positive about the likelihood of approval. Bloomberg analysts James Seyffart and Eric Balchunas, in particular, have heightened their more optimistic view regarding the possibility of Bitcoin ETF applications receiving the green light. Seyffart recently shared on Twitter that both he and Balchunas raised their projected chances of spot Bitcoin ETF approval to 65%. It’s worth mentioning that just a few weeks ago, they had set the odds at 50%, indicating a significant increase in confidence. This revision also marks a substantial improvement from their previous prediction of a mere 1% probability, a couple of months back. The analysts pointed out that various factors are influencing the situation. Gary Gensler, the chairman of the Securities and Exchange Commission [SEC], holds a crucial pos...