Bitcoin Despite widespread expectation that spot ETFs will soon be approved by the U.S. Securities and Exchange Commission (SEC), one analyst suggests another delay may be on the horizon.
James Angel, a lecturer at Georgetown University, warns that the SEC may employ various strategies to further delay the launch of the spot bitcoin ETF. “There are a number of ways the SEC can use to slow things down even further,” Angel said.
He explained that the SEC may tell applicants:
“If you want an answer today, it will be no. What we want you to do is withdraw your application and re-apply to start the process again.”
Angel noted that despite the existence of decision deadlines, the SEC has significant power to persuade applicants to voluntarily accept a delay. He added that although applicants have the option of taking the matter to court, such a process could take months.
Bloomberg analysts had reported that the approval probability for BTC Spot ETFs was 90%. However, the Matrixport report, published recently and suggesting that applications may be rejected, also made a splash.
*This is not investment advice.
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