{"id":203595,"date":"2023-11-30T15:24:24","date_gmt":"2023-11-30T09:54:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=203595"},"modified":"2023-11-30T15:24:24","modified_gmt":"2023-11-30T09:54:24","slug":"sec-chair-gary-gensler-hinted-at-spot-bitcoin-etf-approval-speculates-bloomberg-analyst-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sec-chair-gary-gensler-hinted-at-spot-bitcoin-etf-approval-speculates-bloomberg-analyst-crypto-news\/","title":{"rendered":"SEC Chair Gary Gensler Hinted At Spot Bitcoin ETF Approval? Speculates Bloomberg Analyst – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

A spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) is most awaited not just by the crypto market, but also traditional financial services industry. While SEC Chair Gary Gensler remained silent on prospects of spot Bitcoin ETF<\/a> approval, his post on X raised speculation of a forthcoming approval.<\/p>\n

Bloomberg ETF Analyst Clears Air On Gary Gensler\u2019s Post<\/h2>\n

U.S. SEC Chair Gary Gensler\u2019s video post<\/a> about the SEC\u2019s Division of Trading and Markets, which is in talks with spot Bitcoin ETF issuers, led people to speculate about a forthcoming approval. Surprisingly, the post came amid the SEC-BlackRock meeting and the SEC\u2019s decision on Franklin Templeton and Hashdex spot Bitcoin ETF applications.<\/p>\n

<\/p>\n

Bloomberg senior ETF analyst Eric Balchunas agreed that the timing is perfect and SEC has done this for every division at this point. He said it\u2019s not a big deal as there are other legit signs indicating a forthcoming approval.<\/p>\n

He also said BlackRock met with the SEC\u2019s Trading & Markets division again and presented them with a \u201crevised\u201d in-kind model design based on comments at their earlier meeting last week.<\/p>\n<\/p>\n

<\/p>\n

Commenting on the video, VanEck and Tether advisor Gabor Gurbacs said:<\/p>\n

\n

\u201cHaving to rely on reading tea-leaves and tweet-sequences from a single man does not sound like a free, functioning or optimal capital market supervision structure for the largest market in the world.\u201d<\/p>\n<\/blockquote>\n

Also Read: Australia Unveils Bold Strategy To Tackle Banking And Crypto Scams<\/a><\/strong><\/p>\n

Signs of Forthcoming Spot Bitcoin ETF<\/h2>\n

<\/p>\n

At the Healthy Markets Association conference on November 29, Gary Gensler said he would not \u201cpre-judge\u201d the matter, when a reporter asked him about the prospects of spot Bitcoin ETF approval as he had denied multiple spot Bitcoin ETF applications.<\/span><\/p>\n

Grayscale has made a few amendments to the agreement of its Grayscale Bitcoin Trust<\/a> (GBTC), for the very first time since 2018, in preparation for a potential transition to a spot Bitcoin ETF.<\/p>\n

The SEC gave the update on Franklin Templeton much earlier than its deadline of January 1, 2023. Meanwhile, the odds of approval are still at 90%,<\/a> Balchunas stated the next update on the odds of spot Bitcoin ETF approval will be on January 10, 2024.<\/p>\n

Also Read: Linda Yaccarino Candidly Defends Elon Musk & X\u2019s Free Speech Stand As Advertisers Flee<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"Ripple<\/div>\n
Ripple CTO Urges Legislative Clarity on Crypto Regulations <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"30..4\"<\/div>\n
Pepe Coin Vs Meme Coin: Which is Better Investment? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"munger\"<\/div>\n
MUNGER Memecoin Skyrockets 31,000% Within Hours of His Death <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

A spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) is most awaited not just by the crypto market, but also traditional financial services industry. While SEC Chair Gary Gensler remained silent on prospects of spot Bitcoin ETF approval, his post on X raised speculation of a forthcoming approval. Bloomberg […]<\/p>\n","protected":false},"author":2,"featured_media":203596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-203595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=203595"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203595\/revisions"}],"predecessor-version":[{"id":203601,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203595\/revisions\/203601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/203596"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=203595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=203595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=203595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}