Speculation is mounting around the potential approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. SEC ahead of the January 10, 2024 deadline.
- The SEC is reportedly engaged in a joint conference call with potential Bitcoin ETF filers, emphasizing a cash-centric methodology.
- During the call, the SEC directed applicants to remove mentions of in-kind redemptions from their filings.
- Market analysts speculate that these developments indicate a potential decision on spot Bitcoin ETFs, with January 10, 2024, highlighted as a critical date.
- While industry insiders express optimism, it is essential to note that the SEC has not officially approved a spot Bitcoin ETF, retaining the authority to deny applications.
SEC Conference Call
Recent reports suggest heightened anticipation within the cryptocurrency community regarding the potential approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
The SEC’s engagement in an uncommon joint conference call with several Bitcoin ETF applicants has become a focal point of speculation.
According to insights from FOX Business correspondent Charles Gasparino, the SEC is emphasizing the importance of a revenue creation model during these discussions.
What Will Happen After Spot Bitcoin ETF Approval?— Amit Jaiswal (@TheAmitJaiswal) December 22, 2023
🔸BTC vs. GOLD
✅Bitcoin is likened to gold as an inflation hedge and store of value. Both have limited supply, independence from traditional money, and worldwide acceptability.
✅Bitcoin spot ETF may affect price like gold… pic.twitter.com/Rg7zGzB8Px
Caution Amid Optimism
Despite encouraging signs, it is crucial to underscore that the SEC has not officially approved a spot Bitcoin ETF. While approvals are widely anticipated, the regulatory body retains the authority to deny applications, introducing an element of unpredictability in the anticipated January decisions.
As the January 10 deadline approaches, speculation intensifies within the cryptocurrency community regarding the SEC’s stance on spot Bitcoin ETFs.
The unusual joint conference call and various regulatory developments have fueled optimism, but market participants remain cautious, recognizing the SEC’s discretion in approving or denying applications.