Bitcoin Is Not Gold – Why Spot ETF May Not Be ‘Sell the News’ Event: EY’s Brody
The consulting firm’s global blockchain leader discussed his bullish outlook in a CNBC appearance.
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Bitcoin ETF
The consulting firm’s global blockchain leader discussed his bullish outlook in a CNBC appearance.
Grewal said in a CNBC interview that he is “confident” that after SEC will fulfill its responsibilities in making a decision about the approval of the ETF applications.
Blockchain analytics firm CryptoQuant’s models predict that $155 billion will flow into the bitcoin market cap should the ETFs be approved.
Meanwhile, the market continues to trend downwards amid higher-than-expected U.S. PPI and CPI Data
Fake news of SEC approval for a spot Bitcoin ETF sent markets higher. Why are traders so obsessed with this new product?
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler continued his combative stance against crypto “hucksters” in congressional testimony on Wednesday, declining to answer the industry’s most urgent questions while arguing that digital assets companies have been dangerously careless with customer assets.
SEC recently extended deadlines for ARK, GlobalX spot bitcoin ETFs.
Why all the excitement about spot bitcoin ETFs? Well, a gold ETF was a huge deal for markets, and people wonder if $BTC might be next.
Bitcoin ETFs are a flashbulb moment for Wall Street on the importance of global money. (Jack Carter/Unsplash, modified by CoinDesk)
Coinbase’s potential involvement in spot bitcoin ETFs could serve as part of the SEC’s reconfigured arguments for rejecting the applications, the report said.