The US regulator is due to announce today whether it will allow Grayscale to launch a Bitcoin ETF
The US securities and exchange regulatory body SEC is approaching the deadline for announcing its decision on whether it will approve Grayscale to convert its Bitcoin Trust into a Bitcoin spot ETF – this is expected to happen today at midnight.
Next year in March, it will be the turn of BlackRock to see if its filing for a Bitcoin spot ETF will be approved, delayed or turned down. Nobody expects the third option to be picked by the regulator. She noted that in that case Grayscale would be driven to work with two departments of the SEC on this issue - Corporation Finance and Trading and Markets.decision. If they don’t, then in seven days from now the case will be closed and Grayscale can start working with SEC staff to get the process of approval rolling.
However, if it does not happen, then, Poppe tweeted, “we might be seeing a case where Bitcoin reverses upwards in the coming weeks.” “I’m positioned long”, he added.At the time of this writing, the global flagship cryptocurrency Bitcoin is changing hands in the $26,700 zone, pushed down there earlier this week by several factors, including the recent geopolitical situation in the East.
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