All Spot Bitcoin ETFs Could Be Approved By This Fall: 'Ball Is Now In SEC's Court,' Says CNBC's Bob Pisani
Portfolio Pulse from Mehab Qureshi
CNBC's Bob Pisani predicts that the SEC will likely approve all pending Bitcoin ETF applications by this fall. This follows a federal court order directing the SEC to reconsider its rejection of Grayscale Investments' application to transform its GBTC closed-end fund into an ETF. Pisani suggests that the SEC could either appeal the court ruling or approve all nine applications for spot Bitcoin ETFs.
August 31, 2023 | 10:32 am
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The SEC's potential approval of all pending Bitcoin ETF applications could increase the accessibility and liquidity of Bitcoin, potentially driving up its price.
The approval of Bitcoin ETFs would allow more investors to gain exposure to Bitcoin without having to directly own the cryptocurrency. This could increase demand for Bitcoin, potentially driving up its price. However, the final decision rests with the SEC, and there is still uncertainty surrounding their decision.
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