Latest Update of ETF Approval

An ETF Research Analyst from Bloomberg Intelligence, though not corroborated by other sources, hints at the SEC possibly approving 2 or all 12 pending Bitcoin ETF applications by Nov 17. The SEC has extended the review period for 9 of these applications to Jan 10, 2024.

Amidst this anticipation, the SEC has discussed with Grayscale about the potential transformation of GBTC into a spot Bitcoin ETF, indicating a positive outlook. Although these conversations were private, Grayscale suggests they are positive about spot Bitcoin ETFs, with approval seemingly a matter of time.

SEC Chairman Gary Gensler's recent video release, which outlines the agency's policy on investment products, is seen by some as a hint towards the SEC's readiness to approve such products, diverging from their previously cautious stance, based on their past behaviors.

📍 After the news, $BTC breaks $36k. 

🖼Table source: James Seyffart