SEC Allegedly Attempts To Reshuffle Bitcoin ETF Fillings
Following today's update on the recent Bitcoin ETF fillings, an analyst suspects that the SEC may be reshuffling the pecking order for approval....
- The United States Securities and Exchange Commission (SEC) has deemed recent spot Bitcoin ETF filings as "inadequate" and lacking clarity and comprehensiveness.
- The SEC has communicated this resolution to the Nasdaq and Chicago Board Options exchanges (Cboe), representing asset managers like BlackRock, Fidelity, and ARK.
- The SEC expects more information on "surveillance-sharing agreements" and the spot Bitcoin exchanges involved.
- The crypto market has been affected by this news, with Bitcoin's price down by 0.49%.
- Some analysts suspect the SEC of favoritism towards BlackRock and attempting to prioritize their ETF application.
- However, there is no evidence supporting a friendly relationship between the SEC and BlackRock.
- The approval of the first U.S. spot market Bitcoin ETF may be delayed due to the SEC's recent revelations.
The sentiment in the article is mostly negative, with the SEC being accused of inadequacy and favoritism. The delay in approving a Bitcoin ETF is seen as a negative development for the crypto market.