The news of the SEC rejecting Bitcoin Spot ETFs might not be so negative

in LeoFinance2 years ago

Hi HODLers, Hiveans and Lions,


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SEC is not giving up yet but I can feel that we are getting closer. They have rejected the recent Bitcoin ETF filings BUT it is not a 100% negative.

This news sent Bitcoin price down more than $1,000.

The SEC argues that filings didn't have enough detail with respect to the “surveillance-sharing agreements," including which spot bitcoin exchange would be used.

The SEC stated:

The asset managers can update their applications and refile, and the CBOE indicated to the WSJ and to CoinDesk that it plans to do so.

This is obviously a negative news but it does not close the door to approve a Bitcoin Spot ETF as Blackrock or Fidelity would just need to take into account SEC's comments.

In a more recent news, we learned that Coinbase will partner with Fideliity to be its surveillance partner in order to resubmit their application. More info here

Stay safe out there,

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Things keep getting interesting every day. Let's hope they get to approve the next batch of ETF proposals.

Blackrock having their application too, I assume soon a spot ETF will be approved?

These are the ones they rejectied for now. Asking for changes

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Well, I do believe we don't really care about ETFs but this is a proxy to allow institutional investors to invest legally in the space!

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