Bitcoin ETF: Approval or Denial? Magic 8 Ball Says “Outlook Good”

TL;DR

At the moment (Wed 10) is the day that the Bitcoin ETF is anticipated to be authorized.

As of this writing (Tue 9), nothing has been confirmed or denied. However there have been a couple of constructive indicators since we final lined the topic.

For instance: Gary posted a thread on Twitter protecting “Some issues to remember for those who’re contemplating investing in crypto belongings”. These studying the market’s tea leaves took this as a precursory ‘heads up’ to the general public, earlier than the ETF launches.

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So, as we speak (Wed 10) is the day that the Bitcoin ETF is anticipated to be authorized.

As of this writing (Tue 9), nothing has been confirmed or denied. However there have been a couple of constructive indicators since we final lined the topic, like:

The SEC despatched suggestions to ETF candidates outdoors of enterprise hours on Monday (bureaucrats working outdoors of enterprise hours? That is uncommon!). This might point out a rush to get every software prepared for approval, asap.

Gary posted a thread on Twitter protecting “Some issues to remember for those who’re contemplating investing in crypto belongings”. These studying the market’s tea leaves took this as a precursory ‘heads up’ to the general public, earlier than the ETF launches.

Hopefully by the point you are studying this, that is all null n’ void!

(And the ETFs have already been authorized!)

However in case we’re nonetheless experiencing radio silence from the SEC, this is some perception from Dave Nadig of VettaFi, that ought to assist to calm any worries…

Talking to the truth that Ark Make investments’s software technically requires a tough “sure” or “no” from the SEC as we speak, Dave stated:

“I would not be stunned if we noticed this dribbled out to Thursday, Friday…

Possibly we begin buying and selling [the ETF] on Tuesday/Wednesday subsequent week.”

Pointing to the truth that the SEC has been recognized to delay these ‘closing solutions’ for weeks up to now, saying:

“It isn’t like there is a legislation the place they seize Gary Gensler and drag him to jail for not assembly a deadline.”

The takeaway:

Authorities strikes sluggish, even when it does not occur as we speak/this week/this month – it appears just like the SEC is gearing as much as make it occur ultimately.