Spot bitcoin ETF approval pretty high
Spot bitcoin ETF approval pretty high
- The 650 billion dollar assets administrator Bernstein assumes that there are good chances of a spot permit for the Bitcoin ETF.
- The argument of the SEC to refuse a spot ETF and at the same time allow futures ETFs, the court will probably not convince in the Grayscale vs. Sec.
- Analysts from Bernstein found that the regulatory authority will probably approved a spot ETF of a regulated wall-street giant instead of dealing with OTC products such as GBTC.
on July 2: Gemini co-founder Cameron Winklevoss tweeted that it was 10 years ago, Since the Winklevoss twins submitted the first spot bitcoin ETF. Over the decade, the SEC has rejected several suggestions, a scenario that continues, even if the prospects for the cryptom market are becoming increasingly optimistic.
The case is even clearer after a flood of applications in which mainstream-wall-street giants such as Blackrock, Fidelity and Investco were involved.
one of those who expressed the latest optimistic tone regarding the approval of a spot bitcoin ETF, the brokerage company Bernstein, as Coindesk reported today.
according to experts from the company, who presented their knowledge in a research report, the approval of the SEC for Futures-Bitcoin ETFs and the Leveraged Futures ETF last week allows the regulatory authority to still refuse a spot ETF.
The case for a spot ETF
The claim of the SEC that the futures prices of regulated stock exchanges such as the CME come and not from spot prices that come from crypto exchanges such as Coinbase. However, since large asset managers signal market surveillance agreements in order to prevent possible manipulations, the SEC is basically in the term.
Grayscal's lawsuit against the SEC, which relates to the rejection of a proposal to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF by the regulatory authority is another reason why approval is very likely.
[Read more: Grayscale to convert its gbtc to a bitcoin etf]
analysts from Bernstein say that the court probably does not " convinced that the futures price is not derived from the spot price ." You also think that it could make sense to allow the Futures ETFs and not to reject the Spot ETFs.
Your report summarizes the outlook as follows:
" The SEC would rather introduce a regulated Bitcoin ETF that is managed by more mainstream-wall participants and is monitored by existing regulated stock exchanges than to have to deal with a Grayscale-Outc product that fills the institutional gap ."
market experts see in the recent quick feedback from the SEC recently submitted proposals that led to CBOE BZX Spot-ETFs has submitted for several companies and has named Coinbase as the stock exchange with which they have a surveillance approval agreement, a good first step.
Nasdaq also submitted the ETF proposal from Blackrock again and named Coinbase as a crypto exchange with the SSA.
just in: Blackrock has again applied for a spot bitcoin ETF, the renewed application was on June 29th. Dated that Nasdaq has just published this. You have just added Coinbase, like everyone else. pic.twitter.com/ugq46ddlgu
- Eric Balchunas (@ericbalchunas) 3. July 2023
Source: Coinlist.me
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