SEC decision on Bitcoin ETFs won’t leave out Wall Street giants

” Theres an incredible amount of pressure on the SEC to approve a number of these ETFs, particularly since the approved Futures backed products are lagging area performance considerably, hurting investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger informed Cointelegraph, including that all pending applications will likely be consisted of in a final decision.The SEC is analyzing an overall of eight applications for an area Bitcoin ETF, following past hold-ups and denials of the crypto item in recent years. On Aug. 11, the U.S. markets regulator opened a 21-day remark duration for the ARK 21Shares Bitcoin ETF. SEC application timeline for an area Bitcoin ETF.

” Theres a tremendous quantity of pressure on the SEC to authorize a number of these ETFs, especially since the authorized Futures backed products are lagging area performance significantly, damaging investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger told Cointelegraph, adding that all pending applications will likely be included in a last decision.The SEC is evaluating an overall of 8 applications for a spot Bitcoin ETF, following past hold-ups and denials of the crypto item in current years. On Aug. 11, the U.S. markets regulator opened a 21-day comment period for the ARK 21Shares Bitcoin ETF. As per the filing, the SEC is seeking responses on whether ARK 21Shares proposition is designed to prevent manipulative and deceptive acts and practices, as well as whether the Bitcoin (BTC) market is vulnerable to manipulation.Furthermore, the regulator raised concerns about Coinbases surveillance-sharing arrangement, asking commenters to take a look at whether Coinbases participation in the ETFs surveillance would, in truth, help to discover, deter and examine fraud and adjustment in Bitcoins price. SEC application timeline for an area Bitcoin ETF.

Other Questions People Ask

What impact will the SEC decision on Bitcoin ETFs have on Wall Street giants?

The SEC's decision on Bitcoin ETFs is crucial for Wall Street giants as it could open the door for significant institutional investment in the cryptocurrency market. With the pressure mounting to approve these ETFs, especially given the underperformance of existing futures-backed products, major financial institutions are closely monitoring the situation. An approval could lead to increased participation from these giants, potentially stabilizing and legitimizing the Bitcoin market.

How many applications is the SEC currently reviewing for Bitcoin ETFs?

The SEC is currently evaluating a total of eight applications for spot Bitcoin ETFs. This includes notable proposals such as the ARK 21Shares Bitcoin ETF, which recently entered a comment period for public feedback. The outcome of these applications is anticipated to significantly influence the future landscape of cryptocurrency investments, particularly for institutional players.

What concerns has the SEC raised regarding the ARK 21Shares Bitcoin ETF?

In its review of the ARK 21Shares Bitcoin ETF, the SEC has expressed concerns about potential market manipulation and the effectiveness of Coinbase's surveillance-sharing arrangement. The regulator is seeking input on whether this arrangement would adequately help detect and prevent fraudulent activities in Bitcoin trading. These concerns highlight the SEC's cautious approach to ensuring that any approved ETF maintains market integrity.

Why is there pressure on the SEC to approve Bitcoin ETFs?

There is significant pressure on the SEC to approve Bitcoin ETFs due to the poor performance of currently approved futures-backed products, which are lagging behind spot market performance. Investors are increasingly frustrated with these products, prompting calls for more accessible investment vehicles like spot ETFs. Approval could not only satisfy investor demand but also enhance the overall credibility of Bitcoin as an asset class.

What is the timeline for the SEC's decision on Bitcoin ETFs?

The SEC's timeline for deciding on Bitcoin ETFs includes a 21-day comment period that began on August 11 for the ARK 21Shares Bitcoin ETF. Following this period, the SEC will review all feedback before making a final decision on the pending applications. This timeline is critical as it will determine when Wall Street giants can potentially enter the Bitcoin ETF market, influencing their investment strategies moving forward.