Will the spot Bitcoin ETF get approved by the SEC?
08/14/2023 •
Skeptical about approval — Majority of the comments highlight skepticism, concerns about manipulation, and the historical pattern of the SEC rejecting spot ETFs. There's also mention of consistent rejection by the SEC in the past and a specific prediction by a former SEC Attorney.
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| 64% | 86 | |
| 36% | 49 | Bluesky |
| 41% | Neutral |
| 37% | Negative |
| 22% | Positive |
| 53% | 😡 Anger |
| 26% | 😃 Joy |
| 19% | 😱 Fear |
| 3% | 😢 Sadness |
| 0% | 🥰 Love |
| 0% | 😯 Surprise |
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Story
- Cathie Wood and Michael Novogratz believe that the SEC may approve multiple spot Bitcoin ETFs simultaneously, suggesting a possible positive impact on Bitcoin's price.
- Former SEC Attorney John Reed Stark predicts that the SEC will not approve a spot Bitcoin ETF but suggests a potential shift in the agency's stance with a Republican win in the White House.
- Commenters have expressed concerns about fraud and manipulation in Bitcoin markets as reasons for the SEC's past rejections of spot ETFs.
- Some believe that regulators in other countries approving Bitcoin ETFs signifies a growing acceptance of cryptocurrency.
- The SEC has been approving futures ETFs while consistently rejecting spot ETFs, despite futures deriving their price action from the spot market, which has garnered criticism.
- Political factors could influence the SEC's decision on approving a spot Bitcoin ETF, with speculation that the SEC may become more crypto-friendly if a Republican wins the White House.
- Gary Gensler, head of the SEC, has been criticized for his logic in making decisions related to ETF approvals.
- Some commenters believe that the SEC approving a spot Bitcoin ETF would provide Bitcoin with a sort of "seal of approval" by the U.S. government.
- BlackRock and Fidelity are among firms waiting on the SEC's decision regarding their ETF applications.
- There's a belief that the SEC's delay in approving a spot Bitcoin ETF might be intentional to suppress Bitcoin's price until its approval, anticipating a price surge afterward.
- An approval of a spot Bitcoin ETF by the SEC would likely increase custody business for financial institutions.
- The approval of Bitcoin ETFs in other countries, like Europe, implies that the U.S. should follow suit.
- Regulatory uncertainty can lead to increased market volatility, and a rejected ETF application might cause a decline in investor confidence, possibly triggering a broader market sell-off.
- The SEC has been consistent in citing concerns about market manipulation and protecting investors as reasons for rejecting spot Bitcoin ETFs.
- Some believe that the SEC is facing pressure to approve a spot Bitcoin ETF because other countries have done so, indicating a trend of global acceptance.