SEC Could Deny Bitcoin ETF Applications
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In a major blow to the crypto community, BitGo CEO Mike Belshe has warned that there could be another round of spot bitcoin ETF rejections. The Securities and Exchange Commission (SEC) is reportedly considering denying applications based on custody not being separated from exchanges.
This news comes as a surprise to many, as the SEC has previously signaled its willingness to approve a spot bitcoin ETF. However, it seems that the SEC is still concerned about the potential for market manipulation and investor protection.
If the SEC does deny these applications, it will be a major setback for the crypto industry. It will also make it more difficult for investors to gain exposure to bitcoin.
What this means for you:
If you are an investor who is hoping to invest in a spot bitcoin ETF, you will need to wait longer. It is also possible that the SEC will never approve a spot bitcoin ETF.
If you are already invested in bitcoin, you should continue to monitor the situation closely. The SEC's decision could have a significant impact on the price of bitcoin.
What you can do:
You can contact the SEC and express your support for a spot bitcoin ETF. You can also follow the news closely to stay up-to-date on the latest developments.