After Grayscale’s victory in court over the SEC – and the regulator’s decision not to appeal the result – the drive for Bitcoin ETFs has increased.
The SEC Changes Its Tune
JPMorgan and Bloomberg Intelligence indicated that all signs pointed toward a Bitcoin ETF approval by the end of January 2024. Meanwhile, SEC Chairman Gary Gensler confirmed that he and his team were taking a look at about 8 to 10 separate ETF proposals and engaging with the companies behind them.
This change of pace was confirmed by Cathie Woods and Mike Novogratz. Both investors have already made Bitcoin ETF proposals, and both have reported an increase in constructive dialogue with the regulator following the Grayscale court case.
These signs pointed to a possible batch approval – or refusal – of ETF proposals. However, one ETF has made a sudden appearance on a stock market-linked corporation, which a Bloomberg analyst has singled out as a key milestone in government approval.
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