In a recent development, the SEC postponed its decision on HashDex’s spot Bitcoin ETF application. Additionally, the SEC also delayed its decision on the Grayscale Ethereum Futures ETF. However, former politician Anthony Scaramucci predicts a rally for Bitcoin and Ethereum.
SEC postponed its decision on Hashdex’s spot Bitcoin ETF application!
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Hashdex’s application to convert its existing Bitcoin futures exchange-traded fund (ETF) into a spot vehicle. The agency also delayed Grayscale’s attempt to launch a new futures-based Ethereum ETF. Hashdex filed to convert its Bitcoin futures ETF into a spot Bitcoin ETF in September. Grayscale also filed for an Ethereum futures ETF in the same month. On both applications, the SEC set a decision deadline of November 17. However, according to its statement on Wednesday, the SEC extended this deadline today.
The delays come amid growing anticipation for spot Bitcoin ETF approval by the federal regulator, which has so far rejected attempts to list such a product for the general investing public. cryptokoin.comAs you follow from , more than a dozen companies have filed for spot BTC ETFs in 2023. Several other companies have also filed for an Ethereum futures ETF. However, there has been no confirmation so far.
Anthony Scaramucci: Pressure on risk assets will decrease
Anthony Scaramucci, CEO of SkyBridge Capital, says a pivot by the Federal Reserve is likely. Therefore, he talks about possible rallies for Bitcoin and Ethereum. In a new interview with Bloomberg Television, Scaramucci says he believes the Fed is done raising interest rates. He notes that this will reduce the pressure on risky assets. He also predicts that the Fed will start reducing interest rates early next year. Based on this, the former politician comes to the following conclusion:
I think the Fed has completed its interest rate hikes. I predict that the inflation data is very positive and will fall further in the next quarter… I think this is very, very good for stock prices, very good for assets. But of course, what do people want for Christmas in America? They want a low-interest mortgage loan. And if you look at housing data in the United States right now, those markets are pretty stagnant. I think the Fed will respond to this. You’ll likely see interest rate cuts before the end of the first quarter. This is generally very positive for risky asset prices.
Anthony Scaramucci predicts BTC and ETH rallies
The former politician says he is bullish on Bitcoin, Ethereum and other digital assets. In this context, he states that he thinks these will “rise” in the near future. He notes that one of the catalysts for the crypto uptrend was the SEC’s approval of the spot Bitcoin ETF. In this regard, Scaramucci shares the following assessment:
If approval happens, I think there will be a tremendous amount of demand for Bitcoin. And of course, there is a Bitcoin halving. This basically means that supply will be halved in April. Therefore, we think that if the supply halves, the supply decreases and the demand increases, prices will move higher for Bitcoin, Ethereum and a few other currencies. And for these reasons, we will remain long in our portfolio. This is a concentrated bet for us, but we like it. This is a macro overlay. You will remember the SVB crisis at the beginning of the year, Bitcoin was quite resilient.
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