Will The SEC Approve A Spot BTC ETF This Year

Will The SEC Approve A Spot BTC ETF This Year?

Canada and most European authorities have approved various crypto ETFs, and they have enjoyed several benefits from doing so. One of the biggest gains is that institutional investors are now more willing to invest in the digital asset space. The financial watchdog has maintained its anti-crypto stance, including direct ETF exposure for investors.
However, the SEC may soften its anti-crypto stance soon since the federal authorities are now receptive toward crypto. Many industry analysts see last month’s crypto executive order by the US President as a positive sign of crypto regulation by the US. Part of the order mandates that federal agencies are also expected to reason together in developing appropriate crypto regulatory policies.

SEC’s Argument No Longer Holds Water
Sonnenshein used a Twitter thread to explain that the SEC contradicted itself after recently approving Teucrium’s BTC futures ETF proposal. He added that the SEC’s argument against not approving a spot BTC ETF became weaker with this approval. You’d recall that the SEC has continually rejected spot BTC ETF proposals based on a 1940 investor protection policy.