The U.S. #SEC is currently considering between eight and 10 #bitcoin #ETF applications, said Chair #GaryGensler. $BTC
Gensler did not specify the eight to 10 spot bitcoin ETF applications the SEC is reviewing. However, based on public records, there are 12 spot bitcoin ETF applications pending review at the SEC, including Grayscale’s application to covert its bitcoin trust (GBTC) into a spot bitcoin ETF.
Other applicants include Cathie Wood’s ARK Investment Management, Blackrock, Bitwise, Wisdomtree, Fidelity, Vaneck, and Invesco. The securities regulator has delayed all decisions on spot Bitcoin ETFs. Eight applications have the latest possible review dates in the first quarter of next year, and three have the latest review dates in the second quarter.
The price of bitcoin soared earlier this week on speculation that Blackrock, the world’s largest asset manager, is close to launching its bitcoin ETF. Moreover, the U.S. Court of Appeals for the D.C. Circuit ordered the SEC earlier this week to reconsider Grayscale Investments’ spot bitcoin ETF application. Some analysts, including those at JPMorgan, are expecting the SEC to approve multiple spot bitcoin ETFs at once.
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