Bitcoin ETF Report from Bank of America! “One Barrier SEC!”

of the SEC Binance and CoinbaseWhile the lawsuits filed against . bitcoin There is talk of an ETF application.

The SEC, which has so far rejected spot Bitcoin ETF applications on various grounds, BlackRock’A new report has come from Bank of America while wondering whether the ETF application will be accepted.

According to the news of Coindesk, SECEvaluating the actions and approach of the spot BTC ETF, BoF analysts said that the SEC’s stance on the spot ETF and the lack of regulatory clarity have overshadowed spot Bitcoin ETF approval and the development of blockchain technology in the US.

Analysts led by Alkesh Shah and Andrew Moss made the following statements in the report:

“Actions by the U.S. Securities and Exchange Commission against the cryptocurrency industry create regulatory uncertainty in the industry.

As this uncertainty puts pressure on cryptocurrency prices, it causes investors’ sensitivity to cryptocurrencies to weaken.

The SEC is targeting crypto platforms, but crypto trading platforms are only one part of the wider ecosystem.”

Finally, analysts said that this pressure from the SEC and the regulatory uncertainty it creates has hindered spot Bitcoin ETF approval and blockchain development, adding that they expect blockchain infrastructure and tokenization to “transform financial infrastructure and markets in the next five to 10 years.”

*Not investment advice.