Crypto currency markets are not having a good Friday as macroeconomic data is poor and highlights the strength of employment. Moreover, wage increases are above average. For now, the main focus of crypto investors is the approval of ETFs, hence BTC continues to hover near $44,000.
What to Expect in Crypto Today
SEC is expected to take a step on ETFs before the end of the workday, on the last business day. No approval has been given yet, but there have been many meetings indicating that it is approaching. Fox Business reporter Eleanor Terrett commented based on inside sources;
“Today, we expect some discussions about modified 19b-4 filings as well as comments on S-1s and possible launch dates. The timeline for approvals still looks like next week, but it all depends on how fast things happen. The SEC can read today’s comments and amendments.”
If there is going to be a big surprise, it would be the SEC issuing orders for listings on exchanges next week. In the worst-case scenario, as underlined by Terrett, we should see moves that will increase sensitivity with file updates.
Bloomberg ETF Analyst James wrote the following regarding these updates;
“For everyone asking about today:
Today we expect the 19b-4 amendment filings that SEC and issuers have been discussing for weeks. That is, cash creation/use. Frankly, I’ve been expecting these by now. We still expect potential approvals next week.”
