The Securities and Exchange Commission (SEC) may approve 12 pending Bitcoin ETF applications starting tomorrow. This includes the BlackRock iShares Spot Bitcoin ETF and the conversion of the Grayscale Bitcoin Trust. The SEC has given itself a deadline extension for rebuttal comments on these applications, which is set for Wednesday, November 8th. Approval of the Bitcoin ETFs could take weeks or even months, but investors are optimistic and BTC prices have been rallying in October. A Bitcoin ETF would allow investors to gain exposure to the world’s largest cryptocurrency without having to hold the asset themselves. It is possible that a spot Bitcoin ETF could attract between $50 billion to $100 billion in inflows over the next five years, with some people hoping that Wall Street titans won’t hold big piles of Bitcoin. Crypto funds have already attracted $767 million worth of deposits in the past six weeks. #BitcoinETF #SEC #BlackRock #Grayscale #Cryptocurrency
You can read more about this topic here: Decrypt: 12 Bitcoin ETFs Have ‘Brief Window’ for SEC Approval Starting Tomorrow
