{"id":560414,"date":"2023-11-13T12:23:22","date_gmt":"2023-11-13T12:23:22","guid":{"rendered":"https:\/\/wncen.com\/?p=560414"},"modified":"2023-11-13T12:23:22","modified_gmt":"2023-11-13T12:23:22","slug":"analysts-say-sec-bitcoin-etf-decision-could-come-this-week-as-btcetf-ico-hits-500k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/company\/analysts-say-sec-bitcoin-etf-decision-could-come-this-week-as-btcetf-ico-hits-500k\/","title":{"rendered":"Analysts Say SEC Bitcoin ETF Decision Could Come This Week as BTCETF ICO Hits 500K"},"content":{"rendered":"
An analyst has just taken to X (formerly Twitter) to exclaim that this week could prove pivotal to the SEC\u2019s decisions on Bitcoin ETF approvals.<\/p>\n
Meanwhile, the trend-savvy presale project Bitcoin ETF Token ($BTCETF) has just hit $500K as anticipation around the approvals ramps up.<\/p>\n
With countless global money managers, including Blackrock, Citadel, and Fidelity, all partaking in somewhat of a digital gold rush to get their Bitcoin ETFs approved, the SEC\u2019s stance has been impartialness and equal treatment to all players.<\/p>\n
As such, the market consensus is that the SEC will approve a batch of Bitcoin ETFs in one sweep to remove any first-mover advantage in such uber-competitive market conditions.<\/p>\n
Well-respected market insider Nate Geraci recently summarised<\/a> an upcoming event highlighted by Bloomberg Analyst James Seyffart.<\/p>\n The analysis points out a supposedly crucial deadline for 19b-4 approval orders ending on 17 November. According to Geraci, the window for these 19b-4 approval orders will close because some Bitcoin ETF issuers filed later than others.<\/p>\n <\/p>\n Without passing said approval orders before the deadline, the SEC may not achieve its desired impartialness in the Bitcoin ETF approval process.<\/p>\n Geraci also notes that these approval orders are not necessarily all-out Bitcoin spot ETF approvals. More so, they are approvals for \u201crule changes that allow Bitcoin spot ETFs to list and trade on their respective exchanges.\u201d<\/p>\n However, the analyst notes that while the importance of these approvals is mainly for \u201coptics,\u201d he states that \u201coptics are extremely important in this particularly high-profile situation.\u201d<\/p>\n He then published a second tweet<\/a> highlighting a potential U.S. government shutdown that could occur later this week. This adds an air of uncertainty and urgency to the situation.<\/p>\n The approval of Bitcoin ETFs is anticipated to be pivotal for the crypto market, with some analysts forecasting<\/a> a $1 trillion liquidity inflow following their launches. The current global cryptocurrency market cap is $1.46 million, so the ETF approval combined with other upcoming events like the Bitcoin halving and mass adoption could see crypto enter a monumental bull rally.<\/p>\n One project capitalizing on the current frenzy is Bitcoin ETF Token, a new presale project that has raised over $500K in one week.<\/p>\nStake-to-Mine Bitcoin ETF Token Will Burn 25% of Supply and Offers 504% Staking APY<\/h3>\n