that this development may not be as dire as the headline suggests. Balchunas explained that the SEC is essentially asking for more specificity, particularly regarding the naming of the"crypto exchange" and more details on the Surveillance-Sharing Agreement , a requirement considered by many as reasonable and arguably good news.Further insights from James Seyffart, another prominent ETF analyst, also suggest that the SEC's request aligns with what industry experts had predicted.
The SEC's request for more information doesn't necessarily imply a death sentence for Bitcoin ETFs, but it doesn't automatically translate to approval either. Seyffart reiterated that this was always going to be a part of the process, and the SEC could still deny approval based on the"market of significant size" point, or on the"regulated market" point.
The crypto industry and prospective ETF issuers now wait with bated breath, as the future of Bitcoin ETFs in the US hangs in the balance.
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