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Is Bitcoin ETF Decision Going to Be Delayed? Key Expert Weighs In on Rumors

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Tue, 9/01/2024 - 6:50
Is Bitcoin ETF Decision Going to Be Delayed? Key Expert Weighs In on Rumors
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Amid growing speculation about the future of Bitcoin Exchange-Traded Funds (ETFs), the U.S. Securities and Exchange Commission (SEC) has recently issued additional comments on the pending S-1 filings of applicants. 

This move has sparked debates over whether it signifies a delay in the approval of these highly anticipated financial products.

A closer look

James Seyffart, a notable voice in the ETF sector, responded to the persistent rumors, offering a different perspective. 

He acknowledged the SEC's comments on the S-1 documents, particularly regarding the fees that stirred much discussion earlier in the day. 

Related

Seyffart doesn't view these developments as indicative of a delay. Instead, he points out that the rapid response from the SEC. Providing comments on the same day as receiving documents is almost unprecedented for the regulatory agency. This suggests an eagerness to move forward rather than delay. 

Supporting Seyffart's view, expert Scott Johnsson remarked on the exceptional nature of the quick feedback from the SEC. He recalled how previous ETFs, like those based on futures in 2022, didn't require completed S-1s for 19b-4 approval. 

Johnsson stressed that the current scenario likely reflects the SEC's intention to expedite approval and launch processes.

BlackRock's anticipated approval 

As reported by U.Today, BlackRock, the financial behemoth, anticipates approval from the SEC for its spot Bitcoin ETF as soon as next Wednesday. 

This report has fueled optimism within the investment community. BlackRock, alongside other prominent firms such as Grayscale Investments, Valkyrie, and ARK 21Shares, recently submitted updated 19b-4 filings for their proposed spot Bitcoin ETFs. 

However, Matrixport has predicted that the approval of a spot Bitcoin ETF could be delayed.   

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