In a recent development, the US Securities and Exchange Commission decided to postpone the Franklin/Hashdex Bitcoin Exchange Traded Fund (ETF). This decision by the SEC caused consternation among investors and industry experts. Typically, regulatory delays in Bitcoin ETF approvals are disappointing. But in this case, the deviation from the usual course of action is interpreted as a positive signal.
Will Bitcoin ETF approvals come between these dates?
As you follow on Kriptokoin.com, giant corporate companies have applied to the SEC for a spot Bitcoin ETF. This increased the belief that ETFs would receive approval. Market watchers believe the SEC is taking a careful and deliberate approach to ensure thorough review of the offering. This indicates a desire to deal with the rapidly developing cryptocurrency world. Veteran journalist James Seyffart points out a date range for possible Bitcoin ETF approval:
The window is officially between January 5th and January 10th. This means potential confirmation orders will arrive on Monday, January 8, Tuesday, January 9, or Wednesday, January 10. Mark your calendars.
Window is officially Jan 5th to Jan 10th. Really this means that any potential approval orders are going to come on either Monday Jan 8, Tuesday Jan 9, or Wednesday Jan 10. Mark your calendars people. https://t.co/8ob8Y6pgU5
— James Seyffart (@JSeyff) December 1, 2023
The comment period for the Franklin/Hashdex Bitcoin ETF will end on January 5. It will also create intense focus in the weeks leading up to the deadline. According to experts, this extended period for public comment will provide the SEC with valuable information from various stakeholders. Interestingly, this delay comes amid another important deadline in the cryptocurrency space. ARK Invest, managed by famous investor Cathie Wood, will apply for Bitcoin ETF on January 10. The proximity of these two deadlines indicates strategic coordination within the SEC aimed at streamlining the evaluation process for multiple ETF offerings.
More about ETF approval
Regulatory bodies are grappling with the task of creating a robust framework. The SEC’s decision to delay the Franklin/Hashdex Bitcoin ETF is coupled with the upcoming ARK Invest deadline. Therefore, it underlines the rigorous approach taken by regulators in shaping the future of cryptocurrency investments. Investors are now closely monitoring developments in anticipation of potential breakthroughs in the regulatory environment. It’s possible that the Bitcoin ETF approval decision could also significantly impact the trajectory of the broader crypto market.
Meanwhile, the market continues to show strength over the weekend. Leading cryptocurrency Bitcoin made a new move after consolidating. With this move, BTC approached the 40 thousand dollar limit. There is a generally positive atmosphere in the market. Experts predict that possible spot Bitcoin ETF approvals will ignite a new bull market.
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