Crypto:
29757
Bitcoin:
$66.917
% 0.27
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 66.917
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Ongoing Bitcoin ETF Application Processes

Bitcoin ETF

The application processes continue with the companies managing the most significant assets for Bitcoin ETF , while investors are very curious about this.


Large companies like Grayscale, Fidelity, BlackRock, and Invesco are awaiting approval or denial for their Bitcoin ETF application processes by the SEC. Some analysts believe that large institutions will strongly invest in Bitcoin when such approval comes.

SEC, has had a quite cautious attitude toward these types of applications for a long time. SEC Chair Gary Gensler, had given hints in a recent hearing about how the commission would interpret the decision of the U.S. Court of Appeals.

Potential Turning Point for Bitcoin ETFs

There was a noteworthy development in August, where the D.C. Circuit’s U.S. Court of Appeals had characterized the SEC’s arbitrary rejection of Grayscale’s offer.

This position, which is quite important for Bitcoin ETFs and investors, could be a crucial turning point for the approval of future cryptocurrency ETFs. During this process, market players and investors are trying to assess the impacts on the markets by closely monitoring the SEC’s attitude.

Of course, theoretically, the SEC could reject Grayscale’s application for various reasons, but it remains uncertain how long it would take for the SEC to make such a decision.

Grayscale, optimistically, emphasizes that they are ready to act quickly if the court makes a positive decision and will move into action as soon as they catch a positive situation to turn GBTC into an ETF.

If the Bitcoin ETF applications from large companies like Grayscale, Fidelity, BlackRock, and Invesco are accepted, a new environment for Bitcoin will be created, and investors’ trust issue will be partly eliminated. Investors and market analysts are trying to get more information about the future of the cryptocurrency market by closely monitoring these developments.


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