{"id":562962,"date":"2023-11-29T11:15:28","date_gmt":"2023-11-29T11:15:28","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=562962"},"modified":"2024-06-11T07:08:49","modified_gmt":"2024-06-11T07:08:49","slug":"bitcoin-spot-etf-sec-delays-38000","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin-spot-etf-sec-delays-38000\/","title":{"rendered":"Bitcoin Spot ETF: SEC Delays Fail To Stop BTC As Price Clears $38,000"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/www.ktsl888.com\/crypto\/sec-announcement-crypto\/#:~:text=What%20The%20SEC's%20Latest%20Announcement%20Means%20For%20The%20Crypto%20Industry,-by%20Scott%20Matherson&amp;text=A%20recent%20announcement%20by%20the,actions%20have%20had%20on%20it.\"><span style=\"font-weight: 400\">Securities and Exchange Commission\u2019s<\/span><\/a><span style=\"font-weight: 400\"> (SEC) latest decision wasn\u2019t enough to hold back the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-rise-hinges-on-etf-approval-analyst\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">foremost cryptocurrency, Bitcoin<\/span><\/a><span style=\"font-weight: 400\">. The cryptocurrency crossed $38,000 even on the back of the SEC\u2019s move to delay <\/span><a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/sec-prove-bitcoin-is-not-manipulated\/\"><span style=\"font-weight: 400\">two Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h2>SEC Delays Templeton And Hashdex Bitcoin Spot ETF<\/h2>\n<p><span style=\"font-weight: 400\">On November 28, the SEC delayed its decision on <\/span><a href=\"https:\/\/bitcoinist.com\/trillion-dollar-spot-bitcoin-etf\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Templeton<\/span><\/a><span style=\"font-weight: 400\"> and <\/span><a href=\"https:\/\/bitcoinist.com\/hashdex-bitcoin-spot-etf-unique-application\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Hashdex\u2019s<\/span><\/a><span style=\"font-weight: 400\"> Spot Bitcoin ETF application. As part of the announcement, the Commission also invited comments on what has been its major concern up till now: the <\/span><a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/sec-prove-bitcoin-is-not-manipulated\/\"><span style=\"font-weight: 400\">issue of fraud and manipulation<\/span><\/a><span style=\"font-weight: 400\"> and whether or not the surveillance agreements in place can help curb that.\u00a0\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/analysis\/xrp\/xrp-price-5200-impulse-bitcoin\/\">Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6<\/a><\/div>\n<p><span style=\"font-weight: 400\">Despite this development, the crypto market seemed unperturbed as Bitcoin crossed $38,000, and altcoins also posted some gains. This would come as a surprise to many, considering that the latest momentum in the market has been <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-rise-hinges-on-etf-approval-analyst\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">attributed majorly<\/span><\/a><span style=\"font-weight: 400\"> to the possibility of a <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-price-crosses-35000\/\"><span style=\"font-weight: 400\">Spot Bitcoin ETF approval<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A plausible explanation could be the fact that investors are certain that <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year\"><span style=\"font-weight: 400\">approval is imminent<\/span><\/a><span style=\"font-weight: 400\">, irrespective of the actions of the Commission. This is evident in the fact that institutional money keeps flowing into the crypto market. <\/span><a href=\"https:\/\/jbutterfill.medium.com\/volume-159-digital-asset-fund-flows-weekly-report-0103828f4a3d\" rel=\"nofollow\"><span style=\"font-weight: 400\">CoinShare\u2019s latest report<\/span><\/a><span style=\"font-weight: 400\"> showed that the crypto market, last week, saw its largest weekly inflow since late 2021.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the SEC\u2019s latest delay is an interesting one, considering that a decision on both applications wasn\u2019t due until January 1, 2024. This has led to several speculations as to whether or not this move still means that approval is on the horizon.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/w6NoPbY5\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"2650\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price at $38,140 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<h2>SEC\u2019s Latest Delay May Be A Good Sign<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/x.com\/JSeyff\/status\/76573581?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> shared on his X (formerly Twitter) platform, <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year\"><span style=\"font-weight: 400\">Bloomberg analyst James Seyffart<\/span><\/a><span style=\"font-weight: 400\"> questioned the SEC\u2019s actions and what it could mean for a potential approval. He reasoned that the SEC\u2019s decision could be setting things up for a \u201cfull wave of approvals\u201d in early January. The analyst had <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year\"><span style=\"font-weight: 400\">previously put the likelihood<\/span><\/a><span style=\"font-weight: 400\"> of an approval in January 2024 at 90%.\u00a0\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/analysis\/xrp\/crypto-4400-xrp-price-27\/\">Crypto Analyst Predicts 4400% XRP Price Surge To $27, Here\u2019s When<\/a><\/div>\n<p><span style=\"font-weight: 400\">He further stated that the delay on Hashdex\u2019s application (Hashdex\u2019s announcement came shortly after Templeton\u2019s) confirmed his reasoning. He believes that the SEC is moving to set up all applicants for potential approval by January 10, 2024. He quickly noted that these approvals would be for the 19b-4 and didn\u2019t necessarily mean an immediate launch.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/bitcoinist.com\/sec-greenlight-spot-bitcoin-etf-nov-2\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Scott Johnsson<\/span><\/a><span style=\"font-weight: 400\">, a notable attorney from Davis Polk, also shared the same sentiments as Seyffart. He <\/span><a href=\"https:\/\/x.com\/SGJohnsson\/status\/64243928?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\"> that the SEC might have chosen to delay these applications early so that the comment period could end before January 10, 2024. That way, they can approve all applications at the same time.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Forkast News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission\u2019s (SEC) latest decision wasn\u2019t enough to hold back the foremost cryptocurrency, Bitcoin. The cryptocurrency crossed $38,000 even on the back of the SEC\u2019s move to delay two Spot Bitcoin ETFs.\u00a0 SEC Delays Templeton And Hashdex Bitcoin Spot ETF On November 28, the SEC delayed its decision on Templeton and Hashdex\u2019s Spot Bitcoin ETF application. As part of the announcement, the Commission also invited comments on what has been its major concern up till now: the issue of fraud and manipulation and whether or not the surveillance agreements in place can help curb that.\u00a0\u00a0 Related Reading: Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6 Despite this development, the crypto market seemed unperturbed as Bitcoin crossed $38,000, and altcoins also posted some gains. This would come as a surprise to many, considering that the latest momentum in the market has been attributed majorly to the possibility of a Spot Bitcoin ETF approval. A plausible explanation could be the fact that investors are certain that approval is imminent, irrespective of the actions of the Commission. This is evident in the fact that institutional money keeps flowing into the crypto market. CoinShare\u2019s latest report showed that the crypto market, last week, saw its largest weekly inflow since late 2021.\u00a0 Meanwhile, the SEC\u2019s latest delay is an interesting one, considering that a decision on both applications wasn\u2019t due until January 1, 2024. This has led to several speculations as to whether or not this move still means that approval is on the horizon.\u00a0 BTC price at $38,140 | Source: BTCUSD on Tradingview.com SEC\u2019s Latest Delay May Be A Good Sign In a post shared on his X (formerly Twitter) platform, Bloomberg analyst James Seyffart questioned the SEC\u2019s actions and what it could mean for a potential approval. He reasoned that the SEC\u2019s decision could be setting things up for a \u201cfull wave of approvals\u201d in early January. The analyst had previously put the likelihood of an approval in January 2024 at 90%.\u00a0\u00a0 Related Reading: Crypto Analyst Predicts 4400% XRP Price Surge To $27, Here\u2019s When He further stated that the delay on Hashdex\u2019s application (Hashdex\u2019s announcement came shortly after Templeton\u2019s) confirmed his reasoning. He believes that the SEC is moving to set up all applicants for potential approval by January 10, 2024. He quickly noted that these approvals would be for the 19b-4 and didn\u2019t necessarily mean an immediate launch.\u00a0 Scott Johnsson, a notable attorney from Davis Polk, also shared the same sentiments as Seyffart. He stated that the SEC might have chosen to delay these applications early so that the comment period could end before January 10, 2024. That way, they can approve all applications at the same time.\u00a0 Featured image from Forkast News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":562999,"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":[428,532,90555,656,1119,86857,89185,1122,1144,78790,89193,84647],"class_list":["post-562962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-etf-news","tag-bitcoin-news","tag-btc","tag-btc-etf","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-etf-news","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n<title>Bitcoin Spot ETF: SEC Delays Fail To Stop BTC As Price Clears $38,000<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission\u2019s (SEC) 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