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Bitcoin ETFs Resubmitted: Slam Dunk With The SEC Or Rejected Again?

Following the SEC stating that recent filings were inadequate, all spot Bitcoin ETF proposals have been submitted. With the ball back in the SEC’s court, will the latest updates to lead to a slam dunk approval with the chief US regulator, or another ruthless rejection? BlackRock Spot Bitcoin ETF Resubmitted Along With Others Weeks ago, $10+ trillion AUM investment giant BlackRock revealed it had filed with the SEC for approval on a spot Bitcoin ETF. Despite BlackRock being approved for 575 ETFs to one denial, the SEC claimed the filing, along with others, weren’t adequate.

Related Reading: How Gold And The Dollar Could Validate A Bitcoin Bull Run However, a new chart shows that the BlackRock iShares Bitcoin Trust has been resubmitted, along with all other spot BTC ETFs. Other filings include firms such as Cathie Wood’s ARK Invest, Bitwise, VanEck, Fidelity, and Valkyrie Investments. All of the spot #Bitcoin ETF filings have been resubmitted The ball is back in the SEC’s court 👀 pic.

twitter. com/H3GCrFPUYb — Bitcoin Magazine (@BitcoinMagazine) July 5, 2023 The SEC’s next major deadline to respond begins in late August and each will receive a response before the first full week of September has ended. But will these resubmitted ETFs be a slam dunk with the SEC, or face further rejection? When will a spot BTC ETF be approved? | BTCUSD/NDX on TradingView.

com The SEC And The Domino Effect Of Approvals In a new interview with CNBC, BlackRock CEO Larry Finks said he hopes regulators look at the spot ETF filings as a way to democratize crypto. The fact Fink is campaigning for the SEC’s approval publicly speaks volume’s about the firm’s intent. Related Reading: Why A Soaring Stock Market Could Bring Bitcoin To $47,000 The most respected name in asset management vying for a Bitcoin ETF puts pressure on the SEC to approve what would be a major moment for cryptocurrencies as a mainstream investment class.

Otherwise, the regulator risks revealing its agenda to take the legs — and innovation — out of the crypto market. I think the SEC should do it that way if they are going to get approved. Think the SEC is cognizant of not wanting to be called a kingmaker.

. so its possible they acknowledge these all on the same day or right around same day. — James Seyffart (@JSeyff) July 5, 2023 According to Bloomberg Intelligence analyst James Seyffart, it won’t likely just be BlackRock to be approved, if there is indeed an approval.

Instead, he claims the SEC will want to avoid a “kingmaker” situation, essentially distancing itself from accusations of favoritism. This scenario suggests that once one domino falls, the rest are going to begin tumbling too. The potential implications of this are significantly bullish, considering the scarcity of Bitcoin and sudden number of spot ETF approvals.

Tony is the author of the CoinChartist (VIP) newsletter . Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education.

Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView. com Share Tweet Share Share Sign Up for Our Newsletter! For updates and exclusive offers enter your email.

Sign Up I consent to my submitted data being collected and stored. Leave this field empty if you’re human: Tony “The Bull” Tony “The Bull” is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios.

Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check him out on Twitter or in his free TonyTradesBTC Telegram channel.

Follow @TonyTheBullBTC on Twitter and search CoinChartist on YouTube. Related Posts Valkyrie Refiles Spot Bitcoin ETF, Taps Coinbase As SSA Counterpart 2 hours ago Bitcoin HODLing Continues: 1+ Years Old Supply Sets New ATH 9 hours ago MicroStrategy Up Over $200 Million On Bitcoin Investment As BTC Holds $31,000 1 day ago Bitcoin Spot ETF: This Gambit Gives BlackRock The Best Odds 2 days ago BlackRock’s Bitcoin ETF Refiled With Nasdaq, Coinbase Onboard For Surveillance 2 days ago Will Bitcoin Buck The Bearish Trend Starting With The July Supermoon? 2 days ago.


From: bitcoinist
URL: https://bitcoinist.com/bitcoin-etfs-resubmitted-slam-dunk-with-the-sec/

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