Next week or next year? Shifty deadline looms for a spot bitcoin ETF
Publishing timestamp: 2023-08-09 11:07:32
Summary
The article discusses the potential delay in the Securities and Exchange Commission's decision on spot bitcoin ETFs. Bitwise Asset Management CIO Matt Hougan warns that investors may have to wait longer for a decision, as the SEC has the option to extend the deadline for review. Hougan notes that there have been positive indicators for the approval of these funds, such as surveillance-sharing agreements and a more regulated bitcoin futures market. However, the classification of cryptocurrencies and funds tracking them remains a point of deliberation. Hougan believes that legislation is needed to clarify the regulatory framework for these assets. Multiple organizations, including ARK and Bitwise, have filed applications for spot bitcoin ETFs, and Hougan suggests that approval of multiple products would be the best outcome for investors.
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Keywords: investment strategy, ethereum/usd coin metrics, exchange-traded funds, business news, bitcoin/usd coin metrics, markets, stock markets, grayscale bitcoin trust (btc),