JP Morgan Predicts SEC Will Be Forced To Approve Bitcoin ETFs

by | Feb 22, 2024 | Latest News | 0 comments

Latest News

Latest News

View more

Analysts of JP Morgan predicted that the SEC will have to approve the Bitcoin ETFs

following Grayscale’s substantial legal victory over the SEC. In the last week a federal court said to SEC to compulsorily revisit the very last rejection it has given.The court’s ruling was based on the SEC’s “unexplained and erratic” approach, where it did not clarify its differing treatment of ETFs based on futures and those based on spot Bitcoin. The court further explained that SEC did not had any of a strong reason behind the rejection that has been given by the SEC. And also particularly considering the strong correlation between the spot market and the CME futures market.

Nikolaos Panigirtzoglou said that the SEC will be forced to give its approval and will have to withdraw it is rejection of the bitcoin’s ETF. This will not be a good thing for SEC and it will disrupt the SEC and also embarrass it. And it occurs that the SEC will give it is approval to the bitcoin’s ETF applications. The SEC also had made a recent announcement that it will give it is decision till the Mid-october and this shows that there is many chances that it will approve the application. The analysts of the JP Morgan said that this a tactical maneuver and it will approve all the bitcoin’s ETF application one after the other in mid of October.

This will be a very good way and this not only will remove the first mover advantage but also nurture the competition which will be leading to a reduced fees of the ETF. And in this the situations given to the SEC there are many chances that the bitcoin ETF application will be approved by the SEC.The SEC would need to reverse its prior endorsements of futures-based ETFs to decline both Grayscale’s petition to transform its trust into an ETF and the spot Bitcoin ETF submissions. Experts note that such an action could prove highly unsettling and embarrassing for the SEC, making it an improbable scenario.

Read Also:  Stablecoin Reserve Transparency: How to Check Backing

This will be result into more and more competition in the fees of ETF and also in put pressure on the grayscale to will have to reduce it is fees if it is trust is transformed into the world’s largest bitcoin spot ETF. And in this way there are been seeing chances that Securities & Exchange Commission will have to be approving the bitcoin’s ETF and also it will be doing so by the mid of October.

Conclusion

This approval by the SEC of the Bitcoin’s ETF will not be affecting the overall financial markets at all. Also these bitcoin ETFs were been there in the country of Canada and Europe since few time but it was unable to attract the potential investors and the traders. Also this approval of the bitcoin ETF application by the SEC is also because of various factors like the industrial pressure, maturation of the bitcoin market, regulatory antecedents, demand of the investors and the world wide competition and various such factors, etc. The end results depend upon the SEC and all these other factors which contributing in of the result of the SEC. Also the approval of the Bitcoin ETFs will have an of the impact on the market of the cryptos.

FAQ’ s

Q1-What are of the bitcoin ETFs?

The bitcoin ETFs standing for Bitcoin Exchange Trading Fund through which the of investors are able to getting exposure to the world’s most famous Cryptocurrency Bitcoin.

Read Also:  Crypto Dusting Attacks: Protect Your Wallet Privacy
Q2-Are the bitcoin ETFs liquid?

The bitcoin ETFs are very high liquid and also it provides its investors with very high liquidity.

Q3-For what are the Bitcoin ETFs used?

A3: The bitcoin ETFs are been used for allowing the of the investors to trade and invest in the bitcoin Cryptocurrency.

For the latest crypto news today follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and Linkedin.

You Might Also Like

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

Web Stories

Cardano Founder Slams Vitalik Buterin Over Crypto Security Warnings

Cardano founder Charles Hoskinson criticized Vitalik Buterin over crypto security warnings involving AI threats to lattice-based cryptography.

Read Also:  Crypto Dusting Attacks: Protect Your Wallet Privacy

Utility-Driven DApps Face 2026 Trial Against Web2 Competition

With mature crypto infrastructure, utility-driven DApps face a decisive 2026 test to retain everyday users and compete with Web2 scale.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Altcoin Season Stalls as SOL, TON and XRP Plunge Amid Liquidations

Altcoin season faces a sharp halt as SOL, TON and XRP drop amid thin liquidity and over $200 million in long liquidations.

Read Also:  Circle Arc Mainnet: 5 Powerful Changes for Stablecoin Payments

Perpetual DEX Architecture Faces Regulatory Scrutiny as Hyperliquid Tops $1B Revenue

Hyperliquid hits $1 billion in cumulative revenue as the perpetual DEX industry navigates emerging regulatory standards and onshore rules.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Ethereum Testnet Sepolia Tests 200 Million Gas Limit in Glamsterdam Upgrade Trial

Ethereum’s Sepolia testnet raised its block limit to a 200 million gas limit during the Glamsterdam upgrade trial to evaluate Layer-1 node scaling.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Starknet Weighs Layer 1 Shift to Pursue Full Quantum Resistance by 2027

Starknet is evaluating a Layer 1 shift to implement independent quantum-resistant security by 2027 rather than waiting on Ethereum.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Magic Eden Warns Payment Processor Exploit Leaves Dormant NFT Listings Vulnerable

A Payment Processor exploit targeted old Magic Eden EVM listings, prompting warnings to revoke permissions after thousands of NFTs were rescued.

Read Also:  Circle Arc Mainnet: 5 Powerful Changes for Stablecoin Payments

Fintech Sues Tether in New York Over Tether Stablecoin Freeze

Conduit Technology sues Tether over an unexplained $2.76 million Tether stablecoin freeze, seeking fund restoration and damages in New York federal court.

Read Also:  Circle Arc Mainnet: 5 Powerful Changes for Stablecoin Payments

French Hill Says US Crypto Law Remains Essential as Agency Rules Fall Short

House Financial Services Chair French Hill warned that agency rules cannot replace a permanent US crypto law as the Senate faces a 22-day lame-duck session.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Latest News