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SEC
This week marked the 15th year since the genesis block was mined on Bitcoin and for 10 of those years industry stalwarts pleaded with the SEC to approve a spot bitcoin ETF. So far, the SEC has rejected every spot ETF application, but that may be about to change.
Excitement over a spot bitcoin ETF – a regulated financial product that would give institutional and retail investors easier exposure to bitcoin’s price without requiring them to invest directly in the asset – continues to grow.
We see a 98% chance of approval in the next couple of weeks and the high likelihood of a Bitcoin rally to follow.
“SEC Chair Gensler is not embracing crypto in the U.S., and it might even be a very long shot to expect that he would vote to approve bitcoin spot ETFs,” Matrixport said.
Gary Gensler’s SEC has some bitcoin ETF reading to do. (Jesse Hamilton/CoinDesk)
Expectations that U.S. regulators will approve spot bitcoin ETFs next year are driving prices higher. History suggests we might see a slowdown as we approach the halving in April 2024, says Path Crypto’s David Liang.
Would-be bitcoin exchange-traded fund (ETF) issuer Hashdex changed its paperwork Friday, naming BitGo as its bitcoin custodian and changing the name of its Bitcoin Futures ETF to the Hashdex Bitcoin ETF as it – and other companies – continue to hope for an approval for the U.S.’s first spot bitcoin ETF early in the new year.
BarnBridge failed to register its structured crypto product with the SEC, regulators alleged.
Earlier this month, I had the opportunity to speak with U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, recognized by CoinDesk as one of the most influential figures in the crypto industry over the past year, about how he views his agency’s role in the digital asset world.
The two aim to strengthen cooperation on crypto regulations before South Korea’s new crypto laws go into effect next year.