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News

SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs

October 26, 2023 - Around 2 mins mins to read

Key Points:

  • The SEC is considering several Bitcoin ETF applications, sparking hopes for imminent approval.
  • SEC Chair Gary Gensler underscores uncertainty in approval timing, citing differing filing dates.
  • Cathie Wood’s ARK Invest leads, and optimism grows post-SEC’s decision on Grayscale’s Bitcoin ETF.
According to Reuters, the U.S. Securities and Exchange Commission (SEC) is currently reviewing eight to ten applications for potential exchange-traded products linked to Bitcoin, according to SEC Chair Gary Gensler.
SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs
SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs 2

SEC Chair Gary Gensler Nears Decision on Bitcoin ETFs

Bitcoin ETF news has caused a surge in Bitcoin’s price this week, with market speculators anticipating imminent SEC approval for a spot Bitcoin exchange-traded fund (ETF). Such an approval is seen as a significant driver of demand since it would allow investors to gain direct exposure to Bitcoin through a publicly listed product.

SEC Chair Gary Gensler, who has had a contentious relationship with the digital asset sector, recently commented on the industry at the 2023 Securities Enforcement Forum. However, with applications from asset management giants like BlackRock and Fidelity, the chances of approval for a Spot Bitcoin ETF have risen, with many expecting it to come by year-end.

Currently, there are 8-10 Bitcoin ETF filings before the SEC, as confirmed by SEC Chair Gary Gensler. He emphasized that the timing of the approvals remains uncertain, as each application has different filing dates.

Cathie Wood’s ARK Invest at the Forefront as Bitcoin ETF Approval Looms

The application submitted by Cathie Wood’s ARK Invest is at the forefront, with the SEC’s 240-day comment period set to expire on January 10, 2024. Regulators will need to either approve or reject the application by that date.

Anticipation for spot ETFs has grown following the SEC’s decision not to appeal a court ruling that found it wrong to reject Grayscale Investments’ application to convert its existing Bitcoin trust into a spot Bitcoin ETF. This development signifies a potential breakthrough for the digital asset industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Ark Invest

Bitcoin ETF

SEC

SEC Chair Gary Gensler

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs

Key Points:

  • The SEC is considering several Bitcoin ETF applications, sparking hopes for imminent approval.
  • SEC Chair Gary Gensler underscores uncertainty in approval timing, citing differing filing dates.
  • Cathie Wood’s ARK Invest leads, and optimism grows post-SEC’s decision on Grayscale’s Bitcoin ETF.
According to Reuters, the U.S. Securities and Exchange Commission (SEC) is currently reviewing eight to ten applications for potential exchange-traded products linked to Bitcoin, according to SEC Chair Gary Gensler.
SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs
SEC Chair Gary Gensler Confirms SEC Now Has 8-10 Filings on Bitcoin ETFs 4

SEC Chair Gary Gensler Nears Decision on Bitcoin ETFs

Bitcoin ETF news has caused a surge in Bitcoin’s price this week, with market speculators anticipating imminent SEC approval for a spot Bitcoin exchange-traded fund (ETF). Such an approval is seen as a significant driver of demand since it would allow investors to gain direct exposure to Bitcoin through a publicly listed product.

SEC Chair Gary Gensler, who has had a contentious relationship with the digital asset sector, recently commented on the industry at the 2023 Securities Enforcement Forum. However, with applications from asset management giants like BlackRock and Fidelity, the chances of approval for a Spot Bitcoin ETF have risen, with many expecting it to come by year-end.

Currently, there are 8-10 Bitcoin ETF filings before the SEC, as confirmed by SEC Chair Gary Gensler. He emphasized that the timing of the approvals remains uncertain, as each application has different filing dates.

Cathie Wood’s ARK Invest at the Forefront as Bitcoin ETF Approval Looms

The application submitted by Cathie Wood’s ARK Invest is at the forefront, with the SEC’s 240-day comment period set to expire on January 10, 2024. Regulators will need to either approve or reject the application by that date.

Anticipation for spot ETFs has grown following the SEC’s decision not to appeal a court ruling that found it wrong to reject Grayscale Investments’ application to convert its existing Bitcoin trust into a spot Bitcoin ETF. This development signifies a potential breakthrough for the digital asset industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.