Bitcoin spot ETFs (Exchange-Traded Funds) have been the talk of the crypto town for quite some time, and every passing day elevates the speculation surrounding their approval in the United States. Most of the speculations suggest that Bitcoin ETFs in the US are Imminent and inevitable and when this happens, it could potentially lead to biggest bull run ever. However the stance of Securities Exchange Commission (SEC) have largely remained lethargic or delaying.
A few days ago, A D.C. Court accepted the review petition of Grayscale for its previously rejected spot Bitcoin ETF application. All details here:
Grayscale Wins Against SEC; Green Light For A Bitcoin Spot ETF?
This ruling set a precedent that could pave the way for the approval of multiple Bitcoin spot ETFs. In line with this decision JPMorgan analysts led by Nikolaos Panigirtzoglou have remarked that the SEC can only deny a Spot Bitcoin ETF if they overturn the Bitcoin Futures ETFs which would be “very disruptive and embarrassing for the SEC” hence appears unlikely. "It looks more likely that the SEC would be forced to approve the spot bitcoin ETF applications that are still pending from several asset managers, including that from Grayscale,"
Apart from JPMorgan analysts, there are also other prominent personalities who are referring for an inevitable approval for Bitcoin Spot ETFs in the US.
In A Nutshell
- While SEC has delayed it's decision on multiple spot Bitcoin ETFs by 45 days but this time it might be due to SEC requiring more time to figure out the set of rules to be applicable on Bitcoin spot ETFs.
- Bitcoin ETFs in the US are leaning towards approvals rather than rejections. All of the recent developments have led experts to speculate that the SEC will have no other choice than to approve multiple Bitcoin spot ETFs.
- After years of rejection, the SEC is running out of reasons to deny spot Bitcoin ETFs, especially when futures products have been operating without issues.
- It is highly unlikely that SEC withdraws Bitcoin Futures just not to allow Bitcoin Spot ETFs.
- The floodgates may soon open for investors to gain direct exposure to Bitcoin through their brokerage accounts.
In short the approval of Bitcoin spot ETFs is now a matter of when and not a matter of if. SO BE PREPARED AS IT COULD BE THE BIGGEST PUMP FOR BITCOIN WITH THE NEXT HALVING LOOMING ON THE HORIZON.
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