[2021-05-28] SEC Starts Scrutiny of Skybridge and Fidelity’s Bitcoin ETF Bids

[bbc.reporter]

ETF approval is making the news again. The last hope to bring investors and the hype back might be the approval of a Bitcoin ETF. It might set up bitcoin for a pump if approved or certainly another dump if denied.



The U.S. Securities and Exchange Commission (SEC) has kicked off its review of two more Bitcoin exchange-traded fund (ETF) applications, recent filings with the regulator show.

The two ETFs, Anthony Scaramucci’s SkyBridge Capital and Fidelity Investments’ Wise Origin Bitcoin Trust, join four others already under review. A further 10 are estimated to be pending.

But the SEC has, to date, been wary of approving a crypto version that would attract retail investors, citing the risk of potential market manipulation, among other arguments.

Read in full https://decrypt.co/72072/sec-starts-scrutiny-skybridge-fidelitys-bitcoin-etf-bids

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[Lucius]

ETF approval is making the news again. The last hope to bring investors and the hype back might be the approval of a Bitcoin ETF. It might set up bitcoin for a pump if approved or certainly another dump if denied.

This is far from any news that could affect the market, especially when we take into account that the SEC considers each application within the maximum allowed period of 240 days, which will probably be the case now. The SEC has already extended that period for a VanEck ETF that has met the condition (filled 19b-4) while some others mentioned in the linked article have not yet met that condition.

In other words, if the SEC continues to operate according to its usual practice, in the event of a positive decision, nothing should be expected before the end of the year when the VanEck ETF deadline expires.

For more information -> https://www.etftrends.com/crypto-channel/the-race-to-the-first-bitcoin-etf/

[Slow death]

ETF approval is making the news again. The last hope to bring investors and the hype back might be the approval of a Bitcoin ETF. It might set up bitcoin for a pump if approved or certainly another dump if denied.

like the latest events that have caused the price to drop a lot in the last few days, the SEC already has more excuse to postpone, postpone, postpone, postpone and reject. I don't need a crystal ball to predict that this is exactly what will happen. It would be very good if the betting sites had options for people to be able to place a bet on this sec decision, I would certainly bet that the sec will reject and win good money.