The Bitcoin ETF Race: Will SEC Give A Collective Green Light?
Portfolio Pulse from Piero Cingari
Bitwise CIO Matt Hougan and Cathie Wood are urging the SEC to approve all Bitcoin spot ETF applications. This comes as Bitwise awaits the SEC's decision on its own application. The sentiment is that the SEC might approve more than one ETF at once. The outcome of Bitwise's application remains uncertain, with analysts suggesting another postponement might be likely. The SEC's main concerns are fraud and manipulation.
August 31, 2023 | 7:33 pm
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POSITIVE IMPACT
The approval of Bitcoin spot ETF applications by the SEC could potentially increase the mainstream adoption of Bitcoin, impacting its price positively in the long term.
The approval of Bitcoin spot ETFs would provide a regulated and safer way for investors to gain exposure to Bitcoin, potentially leading to increased demand and a positive impact on its price. However, the SEC's concerns about fraud and manipulation could delay or prevent this approval.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100