THELOGICALINDIAN - The US Securities Exchange Commission SEC is accepting accessible to analysis its decisions apropos Bitcoin ETF applications With this in apperception the SEC is agreeable parties or bodies to book accessible statements in abutment of or in action to Bitcoin ETFs This analysis could affect nine Bitcoin ETF applications
The SEC has set October 26th, 2024, as the borderline for the accession of accessible comments about the aphorism change address to account and barter shares of GraniteShares Bitcoin ETF, and the GraniteShares Short Bitcoin ETF.
The SEC’s Division of Trading and Markets has already banned nine Bitcoin ETF applications from three advance companies: GraniteShares, ProShare, and Direxion.
Now, the SEC wants to analysis these decisions. And to accomplish the review, the SEC is allurement the accessible to book “statements in abutment of, or in activity to, the activity by the Division pursuant to delegated authority.”
Some experts are optimistically citation affidavit why the SEC ability accept Bitcoin ETFs this time. One archetype is the SEC’s appeal for accessible comments. Trefis, a aggregation absolute MIT engineers and Wall Street analysts, wrote:
Optimism is additionally aerial for the approval of the SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust, for which the SEC has already received added than 1,400 comments.
Increasing appeal for Bitcoin ETFs ability additionally be a agency that could weight in the SEC’s decision. As CNBC reported, Bill Barhydt, arch controlling of Bitcoin acquittal app Abra, said,
“It’s activity to appear in the abutting year; I would absolutely accomplish a bet on it,” he added. “There is too abundant appeal for it.”
Another agency could be Bitcoin’s lower volatility. As of this writing, the Bitcoin animation index for the latest 30-day appraisal is 1.71 percent, while the best contempo 60-day appraisal is 2.43 percent.
Bitcoin’s agrarian amount movements ability accept been one of the key factors that advised in on the SEC’s accommodation to adios ETF petitions. Indeed, in abstinent the Winklevoss Bitcoin ETF petition, the SEC absolved assertions that Bitcoin markets were amount abetment resistant. And amount abetment after-effects in aerial volatility.
Regarding Bitcoin’s contempo weeks of low volatility, FXEmpire banking able Bob Mason wrote in Forbes,
“The low animation is additionally a account that amount abetment has conceivably abated.”
Thus, the SEC ability now appearance this best contempo aeon of low Bitcoin amount animation as one added favorable factor.
Do you anticipate the SEC is now added acceptable to accept Bitcoin ETFs? Let us apperceive your thoughts in the comments below!
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