SamSol.eth

Over the past few days the SEC has once again delayed their decisions on spot #Bitcoin ETF filings. However, this time was a bit different so here is an update on what you need to know. 👇🏼 1. This round of delays was made early. Most of the deadlines were in mid-October, but the SEC went ahead and delayed their decisions ahead of schedule. This was likely due to the potential for a US government shutdown which would temporarily cut the SEC’s staff significantly and delay their work. 2. Unlike with previous delays, there are reports that the SEC has reached out to the entities filing for the spot BTC ETFs. While it is not certain why, it could be to discuss potential roadblocks or questions the SEC still has. 3. Because these delays were made early, the timeline for the next sets of deadlines will be shifted, but those new dates have not been announced yet. One major decision from the SEC that has not been made this week is whether or not they will be trying to appeal the decision made against them in the Grayscale case. The deadline for them to do so is October 13th, which is actually closer than some of the deadlines for the ETF filings they just delayed. If they do decide to continue fighting the conversion of gBTC into a spot BTC ETF, they will have to come up with a new reason to do so. One interesting note related to the new ETH futures ETFs being approved is that it likely means the SEC will not attempt to stop spot BTC ETFs by reversing their approval of futures BTC ETFs. To summarize, we are now waiting for the SEC’s next move in the Grayscale case to see if they will come up with a new reason to not allow spot BTC ETFs. However, the SEC is under increasing pressure to give in and approve them, as in the past week US lawmakers wrote to Gensler saying to approve a spot BTC ETF “immediately” and listen to the decisions made in court. If you appreciate content like this then retweet this and follow me here @StackerSatoshi to stay up to date with everything affecting the crypto markets.