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TL;DR
We simply took the temperature of the house, and the hope of getting a BTC ETF within the subsequent 6 months or so is beginning to really feel just a little chilly for the primary time in current reminiscence.
Ark Make investments’s software for a BTC ETF was just lately placed on ice by the SEC and received’t be up for evaluation for an additional 8 weeks.
In a former SEC lawyer’s opinion, the SEC in its present standing is unlikely to grant the Bitcoin ETF everyone seems to be hoping for. In accordance with Mr. Stark, if we would like an ETF – we’ll have to attend for a change in authorities (and SEC chair).
Full Story
Time for our bi-weekly (ish) verify in with Bitcoin – or extra particularly, the lengthy awaited Bitcoin Trade Traded Fund (ETF).
For these of you enjoying at residence:
A Bitcoin ETF would imply inventory merchants might basically purchase Bitcoin through the US inventory market, which might convey a whooole bunch of cash into crypto.
That may be nice! What’s not nice is…
We simply took the temperature of the house, and the hope of getting a BTC ETF within the subsequent 6 months or so is beginning to really feel just a little chilly for the primary time in current reminiscence.
Ark Make investments’s software for a BTC ETF was just lately placed on ice by the SEC and received’t be up for evaluation for an additional 8 weeks.
Certain, this response from the SEC was extra of a ‘possibly later,’ than it was a straight up ‘NO!’
…however Ark’s software was initially filed all the best way again in 2021.
(That is a really lengthy ‘possibly later’ interval).
However okay, wonderful – not the tip of the world. We are able to robust it out. Persistence is a advantage and all that…
Enter: John Reed Stark. He is a former SEC lawyer, and he comes bearing not-so-great information.
In JRS’s opinion, the SEC in its present standing is unlikely to grant the Bitcoin ETF everyone seems to be hoping for. In accordance with Mr. Stark, if we would like an ETF – we’ll have to attend for a change in authorities (and SEC chair).
See what we imply?
It isn’t like our hopes of a Bitcoin ETF are utterly frozen…
However they may do with a jacket.
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