SEC Decision Looms: Will VanEck's Spot Bitcoin ETF Finally Get Approved?
The clock is ticking! The Securities and Exchange Commission (SEC) has just two days, up to November 14th, to decide the fate of VanEck's Spot Bitcoin ETF. This crucial deadline marks a potential turning point in the long-standing quest for a spot Bitcoin ETF in the US.
However, history suggests caution. VanEck’s Head of Digital Assets Research has publicly criticized the SEC for repeated delays on Bitcoin ETF-related applications, expressing frustration over the bureaucratic hurdles and the impact these delays have on the firm’s options. The SEC has previously delayed decisions on VanEck's application on two occasions, mirroring a wider pattern of reluctance regarding spot Bitcoin ETFs.
The SEC faces a final deadline Wednesday to approve or reject at least one of the 11 applications for such funds, which are known as spot Bitcoin ETFs. Will this time be different? Investors are watching closely, hoping for a positive outcome. The approval of a spot Bitcoin ETF would represent a significant step forward for the crypto industry, potentially opening the door to greater mainstream adoption and investment.
Past performance is no guarantee of future results. Notably, the SEC has a history of rejecting VanEck's bids. The agency previously denied VanEck's proposal for a spot bitcoin ETF, a decision released months ago, citing concerns about market manipulation and investor protection. In fact, the SEC on Friday rejected VanEck's application for a spot Bitcoin exchange traded fund, marking the latest setback in efforts to gain regulatory approval. The Securities and Exchange Commission has rejected VanEck’s bid to become the first issuer of a physically held bitcoin ETF in the U.S, marking the latest defeat. The U.S. Securities and Exchange Commission (SEC) even rejected investment firm VanEck’s proposal for a spot bitcoin exchange-traded fund (ETF) in a past decision.
Will the SEC finally approve VanEck's Spot Bitcoin ETF in two days? Stay tuned for updates!