Head of the SEC is not a supporter of more widespread crypto adoption in the U.S. and this may lead to a no on a long anticipated Bitcoin ETF approval. Blocking or rejecting a Bitcoin ETF proposed by companies as massive as Blackrock, something that seems improbable, but as the flash crash showed us today anything is possible. Approve or reject the ETF outcome is history in the making.
Is this real? Will the SEC push against the establishment investment firms in order to stick it to the crypto-community? Or is this one last blunder of FUD From a fading Gary Gensler on the heels of the cases? The consensus appears to be that the SEC will have no choice but to approve the long anticipated ETFs as they meet and vote this upcoming week. SEC regulation makes big impacts on how these technologies will take shape, and affect all of us whether we know it or not.
The SEC has created massive waves in the world of crypto and blockchain, from exchanges to general governance. BankruptcySecurity or Commodity; all words that have seen massive wins, losses or FUD for retail/institutional investors and regulators alike, and now ETFs. The FUD seems real in the ETF scenario, but always do your research because if rejecting the bitcoin ETFs becomes reality the damage would be real. Rejecting Bitcoin ETFs would slow the inevitable tokenization of the investment world, as blockchain continues to change the business and financial landscape for good. Rejection is very unlikely, but only time will tell.
Written by Caleb H from ofthefreemarket.com on January 3, 2024
