 |
| Cryptoanalyst hopes that SEC will approve Bitcoin ETF by October 19th. |
The crypto community anticipates that the US Securities and Exchange Commission (SEC) will grant approval for the inaugural spot Bitcoin exchange-traded fund (ETF) in the near future. A prominent crypto analyst, Crupto Rover, asserts that SEC Chairman Gary Gensler is compelled to endorse multiple Bitcoin spot ETFs from the applications submitted.
This determination is derived from the timing of the application's approval or rejection. According to Crupto Rover's calculations, there remains a mere 23 days until the second deadline for responses to pending Bitcoin ETF applications. By examining the accompanying image in the tweet, it is evident that the deadline looms for the BlackRock,
Bitwise, Wisdom Tree, Invesco Galax, Fidelita, Hashdex, VanEck, and Valkurie applications. Specifically, the second deadline for these listed companies spans from October 7 to October 19, 2023. Notably, in September, the American regulatory body had already postponed the evaluation of Bitcoin ETF applications; however,
the involvement of BlackRock, the largest asset manager, instills hope for a favorable outcome. Recently, CEO Mike Hovogratz of Galax expressed that the first Bitcoin ETF will materialize within the next four to six months. He further indicates that once final approval is attained, BlackRock, Invesco, and Galax will fiercely vie for market share.
