Why October Is An Important Month For The Crypto Industry As Key SEC Decisions Loom
2023年9月23日 - 10:30PM
NEWSBTC
As October approaches, the crypto community will have their eyes
set on the US Securities and Exchange Commission (SEC), as it has
some key decisions to make that could invariably affect the crypto
industry and everyone in it. SEC Appeal Incoming? The SEC is
expected to decide whether or not to appeal the ruling in its case
against asset manager Grayscale, with the deadline for an appeal
being October 13 (45 days from the court’s ruling). On August
29, Grayscale secured a landmark victory against the SEC as the
District of Columbia Court of Appeals ruled that the regulator
failed to provide a valid reason for denying Grayscale’s
application and ordered that the SEC review the application once
again. Related Reading: Polkadot Cross-Chain Bid Takes Flight
As DOT Battles Uncertainty Following the decision, a spokesperson
for the agency stated that they would review the decision before
determining their next steps. If the SEC chooses to appeal, it can
do so at the US Supreme Court by filing a petition for a “writ of
certiorari,” which is a document asking the Supreme Court to review
the case, or it can ask for an “en banc” review where all the
judges of the DC Court of Appeals will further review the
case. An appeal by the SEC will undoubtedly dampen the mood
in the crypto community as it could prolong the wait for a Spot
Bitcoin ETF. However, suppose the Commission chooses not to appeal,
it will become law that the spot and futures market are correlated,
and the SEC’s argument that the spot market is more susceptible to
fraud and manipulation will no longer stick.
Cryptocurrency market cap currently at $1.03 trillion. Chart:
TradingView.com Pending ETF Applications The second deadline for
several pending spot Bitcoin ETF applications is in October. The
SEC must decide (approve, deny, or delay) on these applications.
Some notable dates include October 16 and 17. The former is the
second deadline for a decision on the Bitwise Bitcoin ETP
Trust. Meanwhile, October 17 is the second deadline for the
SEC to decide on the iShares Bitcoin Fund, VanEck Bitcoin Trust,
Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Wise
Origin Bitcoin Trust. It is expected that the SEC will again choose
to delay its decision on these applications, with the next deadline
for a decision coming next year. Related Reading: ImmutableX Makes
Noise As IMX Dominates Top 50 Roster With 33% Climb If the SEC
continues to stretch its decision on these applications, the
earliest a final response can come is on January 10, 2024, the
final deadline for the ARK 21Shares Bitcoin ETF. There should,
however, be some positives to take from October as the SEC is
expected to allow the launch of the pending Ethereum futures ETF
applications, with Volatility Shares projected to launch theirs on
October 12 and others coming subsequently. Featured image
from Hotcore
Ethereum (COIN:ETHUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Ethereum (COIN:ETHUSD)
過去 株価チャート
から 10 2023 まで 10 2024