While expectations are widespread, the regulatory body retains the authority to reject applications, and January's decisions could bring unexpected outcomes. This ruling has injected additional optimism into the market, suggesting a potential shift in the SEC's approach to Bitcoin ETFs.ĭespite these positive indicators, it's crucial to note that the SEC has not yet approved any spot Bitcoin ETF. In a parallel development, a legal ruling affecting Grayscale requires the SEC to conduct a review, though not necessarily an approval, of its ETF application. Legal Ruling Impacting Grayscale Adds to Optimism The reported active engagement of the SEC with multiple applicants, including industry giant BlackRock, contributes to the growing optimism surrounding a potential approval. While none of the involved parties have publicly confirmed the joint conference call, sources close to various firms express optimism about the potential ETF approval by January 10.įOX Business, in a December 20 article, reported that insiders believe an ETF approval is likely by the specified date. No Public Confirmation, but Growing Optimism This strategic move aims to ensure a clear commitment to a cash-centric approach. This approach indicates a shift from an in-kind model, allowing certain Bitcoin transactions among ETF industry participants. During the joint conference call, the SEC reportedly emphasized the importance of a cash-creation model among the applicants.Ĭorrespondent Eleanor Terret of FOX disclosed that the SEC instructed the applicants to remove any references to in-kind redemptions from their filings. Terret further highlighted that the SEC sought assurance from applicants regarding their commitment to a cash-creation model. reported yesterday the…- Charles Gasparino December 21, 2023Īs per U Today, insider sources linked to FOX Business reveal that the SEC will likely greenlight the first spot bitcoin ETF by January 10, 2024. SCOOP: is having what's described as a rare joint conference call with prospective "spot" #BTC ETF filers, as its closely watched decision looms on whether to give these cos the green light to sell to small investors access to crypto. More significantly, the token has gained over 1000% since its $0.038 lows in September, maintaining a consecutive 7-week green candle. Over the past week alone, the price of Loom has surged from $0.1657, resulting in gains exceeding 120%. The Ethereum-based token soared as high as $0.50 around 1 PM UTC on Sunday, marking a staggering 47% increase from its daily low of $0.33, a level not observed since 2018. Loom network’s native token “LOOM” has experienced a significant rise in 2023, surpassing the performance of the wider crypto market. LOOM's recent surge has propelled it into the top 100 cryptocurrencies by market capitalization.Concerns about price manipulation have risen as a single wallet, suspected to be Korean exchange Upbit, holds 47.5% of LOOM's total supply.The recent uptrend in LOOM's price is suspected to be driven by South Korean traders, known for pump-and-dump schemes.Loom Network's native token LOOM has experienced a significant price surge, gaining over 120% in the past week and over 1000% since September.
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