SEC Chairman Gary Gensler, He talked about the spot Bitcoin ETF, which has been on the agenda with speculation lately. B.u in between Grayscale chief legal officer says spot bitcoin ETF is a matter of time. Galaxy Digital Holdings CEO Michael Novogratz estimates the ETF will receive approval by the end of this year.
SEC Chairman spoke about spot Bitcoin ETF
cryptokoin.comAs you can see from , the market isPot thinks Bitcoin ETF is one step closer. Despite industry optimism in this direction, a number of things still need to happen before launch. The SEC’s decision not to appeal doesn’t necessarily mean the regulator plans to approve one.
An ETF of the SEC The market feared a rebound on Monday after rumors spread that it had been approved for . Next, spot Bitcoin ETF It turned out that the news was false. BTC 30,000 on this news dollarrose towards. A.But as of Wednesday morning, 28,000 to the dollar approached. Recently, the SEC chairman Gary Gensler, He explained his views on the subject. attended Bloomberg TV’s live broadcastin gentes, that He used the following statements:
The SEC continues to evaluate spot Bitcoin ETF applications from asset management firms. Naturally, the SEC continues its negotiations with the relevant companies while evaluating the applications.
Craig Salm: Approval of a spot Bitcoin ETF is a matter of time!
According to Craig Salm, chief legal officer of Grayscale Investments, it would be more accurate to say “when” rather than “if” for the spot Bitcoin ETF. Salm expressed optimism for such a product on SiriusXM radio on Wednesday, days after the SEC said it did not plan to appeal an August court order ordering Grayscale to reconsider its proposal to convert its flagship GBTC fund into a spot Bitcoin ETF.
Aside from the spot Bitcoin ETF, Salm also said Grayscale was spending a lot of time in Washington as lawmakers considered two bills to regulate crypto. One of the bills focuses on writing rules for stablecoins. The other takes a comprehensive approach to regulating crypto. Both bills passed the House Financial Services Committee over the summer. Now, it awaits a vote in the House of Representatives. Prospects in the Senate are less certain. In this regard, Salm makes the following comment:
The fact that we have two bills passing out of committee and heading to the House of Representatives is incredible progress that we haven’t seen in the crypto space in DC today.
Novogratz thinks BTC ETFs will be approved this year
Galaxy Digital Holdings CEO Michael Novogratz is confident that the spot Bitcoin ETF will be approved by the end of this year. “It will be approved,” Novogratz said in an interview with CNBC. “We think it will happen this year, in 2023.” says. As you may recall, Grayscale Investments scored a court victory in August. Following this, three judges on the US Court of Appeals ruled that the SEC should reconsider its spot Bitcoin ETF proposal. This indicates that pressure is increasing to approve a spot Bitcoin ETF.
By the way, it should be emphasized that the SEC does not plan to appeal this decision. However, it is not yet clear what will happen for the spot Bitcoin ETF from now on. The CNBC reporter asked for concrete reasons as to why his argument makes sense and isn’t just wishful thinking. Referring to the latest court decision, Novogratz comments:
SEC lost in court… judge said ‘What are you talking about SEC? You have a futures ETF and you say you can’t have a cash ETF. “This doesn’t make any sense intellectually,” he said. This puts the SEC in a difficult situation… The American people want this. BlackRock, the world’s largest asset manager, says to the public, ‘We will do this.’
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