Foreign media analysts are optimistic**: Yesterday's "oolong" tweet may just be a mistake in the SEC's timing ...... release settings
This is despite a fake post on Tuesday's social account of the US regulator stating that the ETF has been approved and sparking a mess. U.S. asset managers remain hopeful about the approval of Bitcoin spot exchange trading** (ETFs), and the U.S. Exchange Commission (SEC) will decide on Wednesday local time whether to approve asset managers ARK Investments and 21Shares to launch Bitcoin spot ETFs. More than a dozen Bitcoin spot ETFs, including BlackRock, Fidelity, and Vaneck, are also awaiting approval from the agency.
These investment products will be a game-changer for Bitcoin, giving institutional and ** investors access to the world's largest cryptocurrency without directly owning it, which is a major boost for the crypto industry, which has been plagued by a series of scandals
Several industry executives revealed earlier this week that they expect the SEC to approve ARK 21shares, as well as a number of other products. The SEC HAS NOT SAID HOW IT WILL DECIDE, AND A SPOKESPERSON SAID THE AGENCY COULD NOT COMMENT ON THE APPLICATION.
On Tuesday night, an unknown person posted on the SEC's social media that all Bitcoin ETF offerings had been approved, catching industry insiders off guard and leaving executives scrambling to figure out what really happened.
The SEC quickly denied and deleted the post, saying authorities were investigating the matter.
Tuesday night,Several sources said they did not expect the hack to disrupt the process
Issuers disclosed their planned ETF fees this week, which is usually one of the last details finalized before an ETF launches。At least three companies have filed or are preparing to file applications asking the SEC to approve their products to launch on Thursday, three sources said. Three sources spoke on condition of anonymity due to the secrecy of the negotiations with the SEC.
Many analysts in the market are still very optimistic. Josh Gilbert, market analyst at eToro, saidTuesday's hack "undoubtedly disrupted the Bitcoin market," but all indications are that the SEC is ready to approve the products.
Foreign media ETF analysts are even more speculatingThe "Bitcoin Spot ETF Approved" tweet may have been caused by a misaligned timing setting。This is expected to be approved Wednesday from 4:00 p.m. to 5:00 p.m. ET (Thursday from 5:00 a.m. to 6:00 a.m. Beijing time) and available on Thursday local time.
Standard Chartered analysts said this weekThis year alone, Bitcoin spot ETFs could attract between $50 billion and $100 billion, pushing Bitcoin's ** to $100,000. Other analysts say the inflows will be close to $55 billion over the next five years.
Andrew Bond, Managing Director and Senior Fintech Analyst at Rosenblatt Securities, said, "This is a huge positive for the institutionalization of Bitcoin as an asset class. The approval of the ETF will further legalize Bitcoin. ”
Bitcoin has risen by more than 70% in recent months in anticipation of spot Bitcoin ETF approvals. After the fake post was published, Bitcoin quickly soared to 4Around $80,000, however, it fell to $4 a few minutes laterLess than $50,000.
Bitcoin briefly fell below $45,000 during Wednesday's U.S. session and is now hovering around this mark.
If the SEC chooses to approve a Bitcoin spot ETF, it will mark a 180-degree U-turn for the regulator。For 10 years, the SEC has rejected Bitcoin spot ETFs for fear of being vulnerable to market manipulation.
SEC Chairman Gensler has long said that Bitcoin is not a ** and has taken a tough stance against the crypto industry as a whole, arguing that many companies are flouting ** laws.
Hopes for the SEC's eventual approval of a Bitcoin spot ETF surged last year after a federal appeals court ruled that the SEC's rejection of Grayscale Investments' application to convert its existing Grayscale Bitcoin Trust (GBTC) into an ETF was wrong. The ruling forced the agency to re-examine its position.
The issuer also sought to address the SEC's concerns about market manipulation by arranging for Coinbase Global, the largest cryptocurrency exchange in the United States, to work with two ETF-listed exchanges to oversee the Bitcoin market.
However, some investors urged the SEC not to give the green light to these products, saying that Bitcoin is too immature. Gensler himself warned on his personal social ** account that investing in crypto assets "can be very dangerous."
Dennis Kelleher, chief executive officer of Better Markets, saidTuesday's fake tweets highlighted these risks。He said:
"This once again illustrates why Bitcoin is the financial product of choice for criminals around the world. ”