SEC extends four Bitcoin ETF deadlines by 45 days

Bitcoin Talk and Cryptocurrencies Cryptocurrency In the News
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ETFs in quesetion:

  • Global X Bitcoin Trust - | resheduled to Nov 21st
  • Valkyrie XBTO Bitcoin Futures Fund | rescheduled to Dec 8
  • WisdomTree Bitcoin Trust | rescheduled to Dec 11
  • Kryptoin Bitcoin ETF | rescheduled to Dec 24

This action is similar to what all previous ETF applications went through - extensions until the SEC couldn’t extend any longer, followed by a rejection.

But something is in the air. Gensler has found a big bad wolf in stablecoins, which I think bodes well for a BTC ETF.

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Meanwhile he Department of the Justice formed a formal anti-cryptocurrency crime group called the National Cryptocurrency Enforcement Team (NCET). NCET will spearhead crypto crime investigations, as well as money laundering operations connected to digital currency exchanges. It will be headed by General Kenneth A. Polite Jr, the US Assistant Attorney.

It looks like they’re really taking notice of cryptos, for better or worse.

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Crypto Twitter is running amok with rumors of the Bticoin ETF approval as early as October 18th. Many of the top Youtube analysts and crypto personalities are weighing in heavy with what such an outcome could mean.

then there’s Eric Balchunas, head ETF analyst at Bloomberg who’s put out his own views on the liklihood of an ETF approval.

TLDR

  • given the timing of application delays, the ETF application submitted first could go live as early as 10/18 if nothigng is heard from the SEC
  • It’s more likely that multiple ETFs will not be approved at once. It would be more fair, however, if that was the case
  • thinks the crypto crowd may be overestimating the demand for such products