projected to launch theirs on October 12 and others coming subsequently.\u00a0<\/span><\/p>\nFeatured image from Hotcore<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"As October approaches, the crypto community will have their eyes set on the US Securities and Exchange Commission (SEC), as it has some key decisions to make that could invariably affect the crypto industry and everyone in it.\u00a0 SEC Appeal Incoming? The SEC is expected to decide whether or not to appeal the ruling in its case against asset manager Grayscale, with the deadline for an appeal being October 13 (45 days from the court\u2019s ruling).\u00a0 On August 29, Grayscale secured a landmark victory against the SEC as the District of Columbia Court of Appeals ruled that the regulator failed to provide a valid reason for denying Grayscale\u2019s application and ordered that the SEC review the application once again.\u00a0 Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty Following the decision, a spokesperson for the agency stated that they would review the decision before determining their next steps. If the SEC chooses to appeal, it can do so at the US Supreme Court by filing a petition for a “writ of certiorari,” which is a document asking the Supreme Court to review the case, or it can ask for an “en banc” review where all the judges of the DC Court of Appeals will further review the case.\u00a0 An appeal by the SEC will undoubtedly dampen the mood in the crypto community as it could prolong the wait for a Spot Bitcoin ETF. However, suppose the Commission chooses not to appeal, it will become law that the spot and futures market are correlated, and the SEC\u2019s argument that the spot market is more susceptible to fraud and manipulation will no longer stick.\u00a0\u00a0 Cryptocurrency market cap currently at $1.03 trillion. Chart: TradingView.com Pending ETF Applications The second deadline for several pending spot Bitcoin ETF applications is in October. The SEC must decide (approve, deny, or delay) on these applications. Some notable dates include October 16 and 17. The former is the second deadline for a decision on the Bitwise Bitcoin ETP Trust.\u00a0 Meanwhile, October 17 is the second deadline for the SEC to decide on the iShares Bitcoin Fund, VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Wise Origin Bitcoin Trust. It is expected that the SEC will again choose to delay its decision on these applications, with the next deadline for a decision coming next year. Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb If the SEC continues to stretch its decision on these applications, the earliest a final response can come is on January 10, 2024, the final deadline for the ARK 21Shares Bitcoin ETF. There should, however, be some positives to take from October as the SEC is expected to allow the launch of the pending Ethereum futures ETF applications, with Volatility Shares projected to launch theirs on October 12 and others coming subsequently.\u00a0 Featured image from Hotcore<\/p>\n","protected":false},"author":594,"featured_media":552661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6664,1944,16811,3799],"class_list":["post-552653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-crypto","tag-etf","tag-october","tag-sec"],"acf":[],"yoast_head":"\n
Why October Is An Important Month For The Crypto Industry<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n