2023-12-1 14:38 |
Recent Securities and Exchange Commission (SEC) actions signal a growing chance of Bitcoin ETF approvals in January 2024, crypto analyst Dr. Martin Hiesboeck (@MHiesboeck) noted. However, he cautioned that outcomes rarely match expectations with the SEC.
Countering, trader Erik Potter (@integral_wizard) argued approvals could still occur, stating “Moving Binance out of the way was the last piece. Everything else are minor details to be ironed out in days/weeks.”
Strategic Deadline Alignment by SEC
As user VirtualBacon (@VirtualBacon0x) explained earlier: “The SEC has now lined up all Bitcoin ETF applicants’ next deadline to be between January 2-17th. These deadlines were all scattered out before, but now the SEC have prepped everyone with the right document filings and deadline periods to all be in the first week of January.”
Earlier, Potter highlighted the SEC’s uncommon move to proactively delay certain Bitcoin ETF proposals like Franklin Templeton’s and Hashdex’s. This shifted their next deadline periods to early January, aligning with all other outstanding filings.
“I think there’s a 90% chance we will see all of these Bitcoin ETF being approved together in the first week of January,” Potter previously asserted. “This abnormal move from the SEC can be perfectly explained by this.”
By postponing select applications, the SEC synchronized the timeframes to potentially approve the entire batch of spot BTC ETFs simultaneously in January. Resolving regulatory uncertainty around Binance’s Tether holdings last November cleared a main obstacle.
No Guarantees, But Case for Approval Strengthening
While the opaque SEC could still deliver surprises, Potter makes the case for coordinated approvals thanks to strategic deadline convergence. However, Dr. Hiesboeck urges caution given the agency’s unpredictable tendencies.
Read also:
Following Bitcoin Spot ETF Approval, This Trap is Ahead According to Popular Crypto Analyst – Here’s His BTC Outlook Chainlink Wallet That Grabbed $80,320,000 LINK Via 81 Wallets Deposits to Binance, Here’s How Much The Whale Will Make After Selling ApeCoin Investors Eye Rebel Satoshi as the Next Big Thing!With key hurdles now apparently cleared, January 2024 could finally witness the long-awaited green light for spot Bitcoin ETFs in the US after years of rejections. The coming weeks should indicate if the SEC is positioning itself to give approval.
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The post Silencing Binance Was the Last Piece for Spot Bitcoin ETF Approval As SEC Strategically Converges Deadlines to This Date appeared first on CaptainAltcoin.
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