That’s it, the SEC is starting to review the first Bitcoin ETF applications. When exactly will she decide on their opening?
Answers to Bitcoin ETFs may come sooner than expected
This summer, Bitcoin ETFs are the big craze in the crypto sector. All eyes are on them in the hope that their opening will revive the bull market, especially after 😢 a failed first attempt. How long do we have to wait before this event? Maybe shorter than you think.
Take effect, The SEC announced last night that it is starting the investigation of the first applications that propose the opening of Bitcoin ETFs. Among the highly anticipated projects there is of course BlackRock, which has recently been the subject of 🤫 rumours, but also Valkyrie.
Initially, the requests will be published on the US regulator’s website. Everyone will therefore be able to take a look and discover the services that future Bitcoin ETFs will offer.
Besides the, it is estimated that it will take between 45 days and eight months for the SEC to review each application and provide a positive or negative response. Please note, however, that the institution can request an additional period of up to six months in case of doubt.
You will therefore have understood: the first answers should arrive in September and extend to the beginning of 2024!
However, some files that were accepted immediately could be corrected at the beginning of next August, in particular the Bitcoin ETF proposed by Ark Invest and 21 Aktier … if all goes well.
Finally, if you really don’t want to wait, you should know that a completely unexpected Bitcoin ETF is already planned 🥳 at the end of July!
Watch out for regulator backlash!
Although the SEC has agreed to take a look at the Bitcoin ETF filing, it is not yet time to declare victory. Take effect, the US regulator is still so opposed to crypto, especially since Gary Gensler 😱 did not accept the court’s decision regarding the qualification of tokens.
He can also ask to delay responses to paralyze the crypto!
For her part, Judge Torres, responsible for the ruling, would be in full negotiation with the SEC, so that it puts water in its wine. According to a recent report published by Forbes, the latter even suggested stopping all lawsuits against the industry!
Time will tell us whether the regulator will have followed this advice and whether or not the phenomenon will weigh on the acceptance of future 🤑 Crypto ETFs.
Moral of the story: Patience and longevity are key to the success of Bitcoin ETFs.
Disclaimer
Disclaimer: In accordance with the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to check the facts on their own and seek professional advice before making any decision based on this content.