A great deal of cryptocurrency proponents are hoping for a positive outcome when the US Securities Exchange Commission (SEC) decides on whether or not they will approve the latest bitcoin-based ETF application file by Cboe. The US regulator had asked for public opinion concerning the ETF again, and this time around the number of responses sent to the regulator is 10X the amount that was sent this past April.
Also Read: Bitcoin Futures Volume Spike As Cboe Awaits ETF Decision
SEC Receives 10X the Number of Responses for the Upcoming Bitcoin ETF Decision
Virtual currency enthusiasts really want a bitcoin-based exchange-traded fund (ETF) approved by US regulators. Over the past few weeks, since Cboe filed an application with the SEC, so it can list shares backed by the Vaneck Solidx Bitcoin Trust (“the Trust”), the SEC office received a large swathe of opinion letters from more than 90 individuals according to recent reports. The number of responses sent was 10X the amount of opinions written last April during a prior bitcoin ETF decision.
Reports also detail that Cboe’s bitcoin-based ETF has been so popular that the SEC has pushed another cryptocurrency related listing off until this September. The attempted Cboe ETF has been a popular discussion among cryptocurrency enthusiasts and some speculators believe digital asset prices will rise in anticipation of the SEC’s decision. Cryptocurrency markets have seemingly already reversed their bearish trend and a good amount of proponents believe this decision will cause a spike either before and after the ruling if it is positive.
SEC Decision Date Discrepancy and a Possible Crypto-Bull Run if the Ruling Is Positive
There’s also been a discrepancy on when the official decision would be made
