SEC May Delay ETF Decision as Their Work Load Piles Up
Bitcoin ETF awaits SEC nod amidst massive paperwork, market hopeful as Bitcoin climbs 7.12% to $45,750 ahead of key decision date.
As the most anticipated deadline for a Bitcoin ETF approval draws closer, The United States Securities and Exchange Commission (SEC) faces a tight deadline with a large pile of paperwork still waiting to be sorted. Despite this, the market stays hopeful.
A FOX Business journalist, Eleanor Terrett has voiced her doubts about an immediate approval. She emphasized that the SEC is unpredictable but the recent surge in the price of bitcoin shows that the market is still optimistic.
A crypto expert, Scott Melker, speculated that the ETF could be approved today January 2. Terrett, however, compared the situation to the Ethereum futures approval last October, while acknowledging a tighter timeline for the SEC.
FOX Business reporter Charles Gasparino added that the SEC's workload may cause them to delay the announcement till the end of the week.
If the SEC manages to approve proposals from companies like BlackRock and Fidelity by January 5, it would be slightly ahead of popular predictions. Bloomberg analysts predicted the approval to be around January 8-10, aligning with earlier expectations.
As of now, Bitcoin's price has risen by 7.12%, reaching $45,750.
