David Edwards
As the January 10 deadline for the decision on the Bitcoin ETF approaches, excitement and speculation are rampant in the cryptocurrency community. Key figures in the crypto world are providing valuable insights, discussing rumors about the possible approval of Bitcoin ETFs in legal circles.
Fred Rispoli, a well-known XRP supporter and legal authority, commented on the situation, predicting a possible legal battle ahead. He pointed out the SEC’s tactic of carefully balancing the interests of major financial institutions while avoiding legal issues.
Rispoli believes that the SEC’s hesitant stance is actually a strategic delay, especially under the increasing demands for a prompt approval of a spot Bitcoin ETF.
In a related twist, Colin Wu reported that Grayscale, a leading name in crypto investment, has updated its application to convert its Bitcoin Investment Trust (GBTC) into a spot Bitcoin ETF. This move includes Grayscale agreeing to the SEC’s requirement for cash-only creation/redemption.
Additionally, Hashdex has been actively engaging with the SEC on ETF matters, even holding a meeting in the office of SEC Chairman Gensler, which highlights the gravity of these ongoing discussions and the strategic moves of major crypto market players.
As 2024 nears, the crypto community is on the edge of its seat, waiting to see the results of these complex negotiations at the crossroads of legal strategy and regulatory dynamics.
