One of the most important agenda items in the cryptocurrency markets is the pending ETF applications from trillion-dollar asset managers. For years, the U.S. securities regulator has been denying spot Bitcoin ETF applications. Following the crypto victory in the recent GBTC case, hopes have risen, and excitement is peaking as January approaches.
Spot Bitcoin ETF
As this article is being prepared, BTC is at $42,500, and the $43,000 region has not yet been secured after the Fed’s decision. The CNBC broadcast started about half an hour ago, and the main focus was on regulatory rules and artificial intelligence. As in every event, the SEC Chairman was asked about his comments on the spot Bitcoin ETF.
SEC Chairman Gensler said he would not signal whether the agency would greenlight Bitcoin ETFs. He also reiterated that the cryptocurrency industry does not have adequate oversight.
Experts who were 90 percent certain that ETF approvals would come by January 10th view the ongoing discussions with potential issuers positively. Following the recent Binance settlement, it was believed that the largest cryptocurrency exchange opening its doors to the U.S. regulator had at least partly allayed the SEC’s concerns.
