This week could see a fundamental development in the cryptocurrency market as there is a possibility of Bitcoin spot ETFs being approved. In a recent mail On the social media platform the long-awaited approval of 19b-4. orders.
This move, anticipated by market experts, could potentially accelerate Bitcoin adoption across mainstream financial services and significantly boost the price of the world’s largest cryptocurrency.
A strategic calendar
The SEC’s approach to issuing these orders is carefully timed to avoid the appearance of market manipulation.
The consensus within the financial community is that the SEC is willing to allow the simultaneous launch of multiple Bitcoin ETFs.
The November 17 deadline is crucial as submissions after this date are unlikely to be considered. This sets a clear deadline for issuers wishing to be part of this historic round of approvals.
Political headwinds
According to Geraci, US states are currently facing political headwinds that could lead to a government shutdown, posing a risk to the timely approval of Bitcoin ETFs.
This could mean that non-essential services, including some SEC functions, would be significantly disrupted.
Such a closure could delay the decision-making process related to financial instruments, including the long-awaited approval of Bitcoin ETFs.
