SEC will approve a spot bitcoin ETF as a ‘political necessity,’ says TD Cowen | Headlines | News | CoinMarketCap
01/03/2024 04:37
The U.S. Securities and Exchange Commission will approve a spot bitcoin exchange-traded fund by the Jan. 10 deadline as a "political necessity," …
The Block12 minutes ago
Foresight
Patrick
SEC
Chair
ETF
Published on January 02, 2024 21:25 GMT+00:00edited on January 02, 2024 21:31 GMT+00:00
The U.S. Securities and Exchange Commission will approve a spot bitcoin exchange-traded fund by the Jan. 10 deadline as a "political necessity," according to investment bank TD Cowen.
"To us, this is a political necessity as the agency needs to cement its role as a crypto regulator before Congress consider broader crypto legislation," TD Cowen Washington Research Group, led by Jaret Seiberg, wrote in a note on Tuesday. "We also believe the agency does not want to lose a legal challenge to its refusal to approve bitcoin ETFs."
The Jan. 10 deadline is when the SEC must finally decide whether to accept or deny an application from Cathie Wood's ARK Investment and 21Shares — the first group to file a spot bitcoin ETF application. By that time, the SEC could also rule on other similar …