Will tomorrow be a lucky day for Bitcoin? Expert discusses the odds Q Cryptocurrency scrgruppen
Turkish lire; Dr
- The cryptocurrency sector is anticipating the SEC’s decision on spot bitcoin ETFs from major finance companies.
- Crypto Rover cites the date as the SEC appeal deadline for Grayscale’s ETF, suggesting all Spot ETFs could be approved if they remain untouched.
- Industry figures, including Cathie Wood, speculate that the SEC could simultaneously greenlight several Bitcoin ETF applications.
Friday the 13th feels like a pivotal date
It is safe to assume that most crypto participants are eagerly awaiting the SEC’s approval or rejection of the numerous spot Bitcoin ETF applications coming from finance giants, such as BlackRock, Fidelity, Invesco, and many others.
Some analysts have predicted that a potential nod from the regulator could send prices of the underlying digital assets soaring and infuse optimism into the entire sector.
While some believe that the development will not happen soon, a popular cryptocurrency investor and trader who uses X (Twitter) is handling Crypto Rover Believes Such approval could happen tomorrow (October 13).
They stated that this date represents the deadline for the watchdog to appeal the Grayscale Bitcoin Spot ETF decision.
“If they don’t appeal the court’s decision, they will have no other options to reject any other Spot Bitcoin ETFs and, therefore, will have to approve all of them. So, if the SEC doesn’t appeal by the end of Friday, we’re basically guaranteeing that Approval for all spot ETFs,” the trader assumed.
Either none or many of them at once
Someone else who Believes The SEC can say “yes” to many spot BTC ETF requests at once, Cathie Wood – CEO of ARK Investment Management:
“I think the SEC, if they’re going to approve a Bitcoin ETF, is going to approve more than one fund at a time.”
James Seyphart, an ETF analyst at Bloomberg Intelligence, supported her thesis, noting that the agency’s “path of least resistance” would be to greenlight all or at least many of the applications submitted so far.
The Spot BTC ETF tracks the live price of the leading cryptocurrency and gives investors exposure to Bitcoin without owning actual amounts of it. The product has so far seen the light in multiple regions, such as Canada and Europe, but not in the United States yet.
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