JPMorgan Expects SEC Approval for Bitcoin ETFs by January 10th
The post JPMorgan Expects SEC Approval for Bitcoin ETFs by January 10th appeared on BitcoinEthereumNews.com. The heightened confidence around the likely approval of many spot bitcoin exchange-traded funds (ETFs) has helped Bitcoin (BTC) this week, according to a research study released on Wednesday by JPMorgan (JPM). Probable Acceptance of BTC ETFs According to the source, the acceptance of the applications is getting closer due to the Securities and Exchange Commission’s (SEC) choice not to appeal a recent judgment in the Grayscale case. The Grayscale Bitcoin Trust (GBTC), the most prominent cryptocurrency fund in the world, is managed by Grayscale. The research study also highlighted that the potential approval of spot bitcoin ETFs could lead to increased institutional investment in bitcoin. This could further boost the cryptocurrency’s price and market stability as more traditional investors gain exposure to the digital asset through regulated channels. Report and Predictions of Experts JPMorgan’s report suggested that the SEC’s decision not to appeal the Grayscale case judgment indicates the regulatory body’s growing acceptance and understanding of cryptocurrencies. According to experts led by Nikolaos Panigirtzoglou, approval should occur within a few months, most likely before Jan. 10, the last day for Ark 21Shares applications. How ETFs can benefit the market? ETFs monitor the performance of an underlying asset and are exchanged on an exchange like stocks. They are well-liked as they provide investors access to cryptocurrencies without requiring them to buy the underlying digital assets. Furthermore, trading them costs less. Accepting a spot bitcoin ETF will bring mainstream capital into the cryptocurrency market. What JPMorgan Believes The bank repeated its belief that the regulator was more likely to accept several applications at once than to give any one applicant a “first mover advantage.” According to JPMorgan, such a change may benefit investors since it would promote competition regarding ETF costs. If the trust’s conversion into an ETF is approved, Grayscale “will…
The post JPMorgan Expects SEC Approval for Bitcoin ETFs by January 10th appeared on BitcoinEthereumNews.com.
The heightened confidence around the likely approval of many spot bitcoin exchange-traded funds (ETFs) has helped Bitcoin (BTC) this week, according to a research study released on Wednesday by JPMorgan (JPM). Probable Acceptance of BTC ETFs According to the source, the acceptance of the applications is getting closer due to the Securities and Exchange Commission’s (SEC) choice not to appeal a recent judgment in the Grayscale case. The Grayscale Bitcoin Trust (GBTC), the most prominent cryptocurrency fund in the world, is managed by Grayscale. The research study also highlighted that the potential approval of spot bitcoin ETFs could lead to increased institutional investment in bitcoin. This could further boost the cryptocurrency’s price and market stability as more traditional investors gain exposure to the digital asset through regulated channels. Report and Predictions of Experts JPMorgan’s report suggested that the SEC’s decision not to appeal the Grayscale case judgment indicates the regulatory body’s growing acceptance and understanding of cryptocurrencies. According to experts led by Nikolaos Panigirtzoglou, approval should occur within a few months, most likely before Jan. 10, the last day for Ark 21Shares applications. How ETFs can benefit the market? ETFs monitor the performance of an underlying asset and are exchanged on an exchange like stocks. They are well-liked as they provide investors access to cryptocurrencies without requiring them to buy the underlying digital assets. Furthermore, trading them costs less. Accepting a spot bitcoin ETF will bring mainstream capital into the cryptocurrency market. What JPMorgan Believes The bank repeated its belief that the regulator was more likely to accept several applications at once than to give any one applicant a “first mover advantage.” According to JPMorgan, such a change may benefit investors since it would promote competition regarding ETF costs. If the trust’s conversion into an ETF is approved, Grayscale “will…
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