New York, Wednesday, December 27 – The U.S. Securities and Exchange Commission (SEC) faces a crucial deadline on January 10, 2024, to rule on applications from several major players seeking to launch physically-backed Bitcoin ETFs. 1Experts view that an SEC approval would mark a significant validation for Bitcoin, offering traditional investors an easier way to gain exposure through regulated exchanges.
It could also unlock a wave of institutional capital influx, potentially boosting demand and price.
However, the SEC has a long history of skepticism towards Bitcoin ETFs, citing concerns over market manipulation and volatility.
Regulatory hurdles have led to numerous application rejections in the past, leaving investors in a state of cautious optimism.
Adding to the complexity, other applications from major institutions like BlackRock and VanEck also await SEC decisions later in January.
While the ARK and 21Shares case stands as the immediate focus, the flurry of applications reflects the growing institutional interest in Bitcoin despite lingering regulatory uncertainty.
The stakes are high. A Bitcoin ETF decision could shape the regulatory landscape for the broader crypto industry and influence mainstream perceptions of digital currencies, reports said.
- Bloomberg: https://www.bloomberg.com/news/articles/2023-12-16/the-deadline-for-the-sec-to-decide-on-a-btc-bitcoin-etf-is-jan-10[↩]
