Insiders disclosed that the US Securities regulatory body is very near to giving a clear yes/no signal to all Bitcoin spot ETF applications.
Bitcoin spot ETF products are a way for big & small investors to invest money in Bitcoin on behalf of the ETF issuer. With such ETF products, people can easily access the Bitcoin investment option via the direct stock market. Currently, a dozen Bitcoin spot ETF applications are in queue to get regulatory approval from the United States Securities and Exchange Commission (SEC).
In the last couple of months, already many ETF experts predicted that the US SEC will give its decision to all the Bitcoin spot ETF applications before 10 Jan 2023.
But now the latest report by Reuters confirmed that the SEC’s decision on these applications will come in within the next 3 days.
Insiders, related to this matter, told Reuters that the SEC agency will give its approval or rejection decision on Tuesday or Wednesday of the next week.
According to some other media reports the SEC’s decision for all these applications will be only positive because they are taking time which means they will give the green signal.
In the past three years, the SEC body rejected all such bitcoin spot ETF applications blindly but when the digital assets fund manager Grayscale sued the SEC body for rejecting its Bitcoin spot ETF application then the court ordered the SEC body to review all such applications again.
It is worth it to note that such news failed to act as a catalyst to bring a sudden pump in the trade price of Bitcoin. According to some crypto analysts, the trade price of Bitcoin is calm because of the end of 2023 and people will again show aggression with the new year, which is usual for every last week of Dec.
The current trade price of Bitcoin is $42,220 & this trade price is 0.5% high over the last 24 hours trade price.
Read also: Leading privacy crypto token Monero (XMR) at the verge of a big crash