The U.S. Securities and Exchange Commission (SEC) is about to make a decision that could change the cryptocurrency market forever. According to Charles Gasparino, a journalist at FOX Business, the US regulatory agency is holding a “rare” conference with companies looking to offer Bitcoin investment funds known as ETFs.
The conference, which will be held on Thursday (21) and is classified as ‘rare’, is an important step as the SEC nears a decision on whether or not to allow giants like BlackRock, Fidelity and others to offer these funds to individual to sell to investors.
“The second has what is being described as a rare joint conference call with potential BTC “spot” ETF filers, as the closely watched decision approaches on whether to give the green light to sell retail investors access to cryptocurrencies. Fox reported yesterday that the decision will be made on January 10.” — said Charles Gasparino.
BREAKING‼️ SEC Holds ‘Rare’ Conference Call Today With ALL Spot Bitcoin ETF Applicants – Fox Business
It’s happening… pic.twitter.com/FIRDakhRPP
—Bitcoin Archive (@BTC_Archive) December 21, 2023
Bitcoin ETF could be approved on January 10
The news is crucial because investing in Bitcoin has until now been slightly more accessible to large investors or people familiar with digital technology.
With SEC approval, the way would be open for more people to invest in digital currencies through a more conventional method, such as mutual funds.
ETFs are a form of investment that allows investors to buy shares of a fund that tracks the value of an underlying asset, in this case Bitcoin. This means that investors can invest in Bitcoin without having to purchase the cryptocurrency directly, which can be complicated for some.
The SEC’s decision is expected on January 10, as previously reported by Fox Business. If the SEC gives the green light, it would be a huge step toward integrating Bitcoin into the traditional financial system. This could also mean greater acceptance and legitimacy for cryptocurrencies in general.
According to reports published this week, members of major financial firms say negotiations are moving toward a favorable outcome. The prospect of a “green light” from the SEC has led to a wave of optimism and speculation in the financial and cryptocurrency communities.
The SEC’s potential approval also reflects a change in attitude toward its historically cautious approach to Bitcoin investing. The change can be attributed in part to recent legal developments that have called into question the scope of the SEC’s regulatory authority over digital assets.
While the entire world awaits ETF approval, the eyes of Bitcoin investors and enthusiasts are on the SEC. The agency’s decision could open new investment opportunities to the general public and potentially change the way people invest in digital currencies.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
