November 7, 2024

Rise To Thrive

Investing guide, latest news & videos!

Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions

1 min read
Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions

In less than a day, Bitcoin (

The next decision deadlines for the ETF applications are between Oct. 16 and Oct. 19, though the SEC can also choose to delay to decision up to around mid-March next year when it will be forced to make a decision.

However, Balchunas said on Aug. 30 that the probability of the SEC approving a spot Bitcoin ETF this year was 75% — up from an earlier prediction of 65%.

He pinned the probability hike on Grayscale’s court win saying the judge’s unanimous rejection of the SEC’s arguments means it “will struggle to justify further denials as it faces deadlines.”

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in