SEC might postpone approval of spot Bitcoin ETF as it reviews comments on newly submitted S-1 forms.

Controversy among Experts as SEC Comments on S-1 Forms Close in on Deadline for Bitcoin ETF Approval Decision

🚀 The SEC’s Additional Comments on Spot Bitcoin ETFs: Delay or Not?

The January 10 deadline for the approval of at least one spot Bitcoin ETF in the United States is fast approaching, and the Securities and Exchange Commission (SEC) isn’t wasting any time adding comments to pending S-1 forms submitted by ETF applicants. But this has sparked a debate among observers: are these comments a delay tactic or just a sign of progress?

The Additional Comments: Delay Signal or Not?

Perianne Boring, the President and Founder of blockchain trade association, The Chamber of Digital Commerce, believes that the additional comments are a clear signal of delay. In a Twitter post, she announced the SEC’s latest move. However, Bloomberg ETF analyst James Seyffart disagrees with this assumption. In his response on Twitter, Seyffart argues that the comments are not necessarily a delay signal but instead indicate the SEC’s willingness to move forward. He even remarks, “Really this just shows how quickly the SEC is turning these things around. Borderline unheard of to send over a document to the SEC in the morning and get comments back the same day (I think). If they wanted to delay – the issuers wouldn’t have gotten comments back tonight.”

Scott Johnsson, a General Partner at Van Buren Capital, supports Seyffart’s viewpoint. Johnsson points out that it is unusual for the SEC to send comments back on the same day of submission. He cites the example of Hashdex’s futures ETFs and suggests that the SEC’s quick comments indicate readiness and a push for quick approval and launch.

The SEC’s Approval Roadmap

While there is still disagreement on whether these comments are delays or signs of progression, it’s important to understand the overall approval timeline. The SEC has a January 10 deadline to decide on the proposal from ARK/21Shares. If approved, subsequent decisions will be made for other applicants, including BlackRock, VanEck, WisdomTree, Invesco, and more.

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Q&A: Addressing Reader Concerns

Q: What factors might contribute to a delay in spot Bitcoin ETF approvals?

A: While additional comments from the SEC may not necessarily indicate delays, there are other factors that could potentially push back the approval process. For example, individual commission members can request a review and full commission vote at their discretion, even if the matter has already been signed and approved via delegated authority.

Q: What impact might these delays (if any) have on Bitcoin’s price?

A: There is no crystal ball, but delays in spot Bitcoin ETF approvals could potentially affect Bitcoin’s price. However, it’s important to note that Bitcoin has already shown impressive gains, with over 11% year-to-date (YTD) and a 14% increase in the last month alone.

The Exciting Rise of Bitcoin

Regardless of the ongoing debate surrounding spot Bitcoin ETF approvals, Bitcoin continues to show incredible growth. With a current trading price of $46,592 and notable gains of over 70% in the last three months, Bitcoin remains an exciting asset for both investors and enthusiasts.

💡 Interested in learning more? Check out these links for further reading on this topic:

1. SEC Chair Gary Gensler tells CNBC commission is taking a new look at spot Bitcoin ETFs
2. Perianne Boring’s post on the additional comments from the SEC
3. James Seyffart’s response to the comments
4. Scott Johnsson’s perspective on the SEC’s quick comments
5. Eleanor Terrett’s explanation of possible delays

📢 Share your thoughts and join the discussion on social media! Let’s explore the fascinating world of spot Bitcoin ETFs together. #BitcoinETF #SECApproval #Cryptocurrency

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