The post Bitcoin ETF Approval: SEC’s Position Weakens, 75% Chance in 2023 appeared first on Coinpedia Fintech News
As the debate over the approval of a Bitcoin ETF gains momentum, Bloomberg Analyst James Seyffart has made a bold prediction. He suggests that the landscape of the Bitcoin ETF race might undergo a significant shift in early 2024, potentially triggering a substantial surge in Bitcoin’s value.
What exactly does Seyffart foresee that could shake up the cryptocurrency world? Let’s delve deeper, shall we?
SEC on the Backfoot
Seyffart’s prediction comes after a noteworthy event – the U.S. Securities and Exchange Commission’s (SEC) recent setback against Grayscale. While, the D.C. Circuit Court of Appeal rejected the SEC’s stance on Grayscale Bitcoin Trust (GBTC) becoming a spot Bitcoin ETF, which sends a clear signal that the SEC’s position is losing ground.
Seyffart also highlights the perplexing aspect of the SEC’s differentiation between spot and futures ETF
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