While the cryptocurrency world is closely following the approval process of Bitcoin ETFs, Bloomberg’s famous ETF analyst James Seyffart shared new information. According to Seyffart’s statements from his X account, there are two and one spot Bitcoin ETF application that the SEC will review on November 17 and November 21. Discussing the details, the analyst stated that he expected a decision to postpone these applications.
SEC’s Assessment
It is stated that the SEC will decide on the spot Bitcoin ETF applications of Hashdex and Franklin Templeton companies on November 17, and Global X company on November 21. Seyffart predicts that the institution will decide to postpone all three applications. However, this delay does not weaken the hope that spot ETFs will gain 90 percent approval by the beginning of 2024.
Seyffart’s Views
James Seyffart emphasizes that despite the postponement decision, his views that Bitcoin ETFs will be approved by 90 percent by the beginning of 2024 have not changed. “As Bloomberg analysts, our opinion has not changed regarding the 90 percent approval rate we expect on January 10, 2024,” the analyst says. This remains an important source of hope for the cryptocurrency world.
Review by Cathie Wood
Another important development is ARK Invest CEO Cathie Wood’s harsh criticism of the SEC and its chairman, Gary Gensler. Wood suggested that the motivation for the postponement and rejection decisions could be linked to Gensler’s goal of becoming US Treasury Secretary. This outburst sparked a broader discussion in the crypto community regarding the SEC’s stance on crypto assets.
Developments regarding Bitcoin ETFs are of great importance for the cryptocurrency world. While James Seyffart’s analysis keeps hopes alive, Cathie Wood’s criticisms shed a thought-provoking light on the internal dynamics of the SEC. Uncertainties about the market’s approach to the SEC’s decisions and the role of crypto assets in the financial world will continue to be closely monitored.
