SEC’s Bitcoin ETF Decision Looms Amidst Market Anticipation

The Securities and Exchange Commission (SEC) is about to announce a significant decision regarding Bitcoin exchange-traded funds (ETFs), a move eagerly anticipated by the cryptocurrency market.

James Seyffart, an ETF analyst, predicts that the decision regarding the ARK 21Shares Bitcoin ETF will be made by the end of tomorrow.

Although the deadline is August 13, it occurs on a Sunday, leading to speculation that an announcement will be made a day earlier.

Seyffart forecasts that the decision will most likely be made after the market closes and is confident that a delay is probable.

BlackRock, Bitwise, Van Eck, and Wisdomtree are pursuing approval for their respective Bitcoin ETFs.

The upcoming days will be especially crucial for ARK 21Shares, whose second deadline precedes its competitors, giving it a potential advantage in the ETF race.

However, there are obstacles on the road to Bitcoin ETF approval. Concerns regarding market manipulation, liquidity, and investor protection may delay or thwart some of these proposed ETFs.

Eric Balchunas, an additional prominent ETF analyst, recently highlighted that the top 15 best-performing equity ETFs this year are all crypto-related, with $WGMI leading the pack with an astounding +227% growth.

North America is the center of crypto ETF trading, accounting for 98% of the global volume.

With the anticipated release of spot ETFs in the United States, Balchunas predicts that this dominance may reach 99.5% consolidation.