Last-minute intervention in Bitcoin ETFs from the SEC

While the expectation of approval for Bitcoin spot ETFs pushed the price above $47,000 as of yesterday evening, a tweet came from Perianne Boring, CEO of the Chamber of Digital Commerce, regarding the rejection decision.

"This is a sign of procrastination"

Boring, who is the CEO of the Chamber of Digital Commerce, an organization that aims to support innovations in cryptocurrencies and blockchain and to cooperate with regulatory bodies, said, "The SEC has made additional comments regarding the S-1 files of companies. I think this is a signal of postponement," he said.

James Seyffart: I don't think so

James Seyffart, Bloomberg's ETF analyst, whose comments in this process are carefully followed by cryptocurrency investors, stated that the information is correct, but it is not a sign of rejection / postponement:

"Yes, that's right... Additional comments on the S-1 filings came as we learned about transaction fees. This is not unusual. We can expect more changes tomorrow (*today). But I don't think it's a postponement signal."

Procrastination or rejection?

A user told Boring, "There can be no postponement decision on ARK Invest. If the decision is going to be negative, it will be a refusal," he said. Boring, the CEO of the Chamber of Digital Commerce, said, "Yes, this rejection decision would be a postponement of the inevitable course" and stated that what he meant by postponement was rejection.

As it is known, the mandatory final decision that the SEC must make by January 10 only covers ARK Invest. However, experts say that the institution will not be satisfied with just ARK Invest and will make a joint decision for all companies.

Published: January 9, 2024 09:38