A spot In a note this week, America’s biggest cryptocurrency exchange There’s a Such a product would give investors exposure to But Wall Street’s biggest regulator has been slow to give a response to applicants, and has pushed back decision deadlines, echoing its earlier approach to spot Bitcoin ETF approvals before finally pulling the trigger in January.This is usually normal in the ETF application process, but the SEC’s reluctance to talk about the investment vehicles has led analysts from the likes of Bloomberg and CoinShares to “As crypto begins to take form as an election issue, it’s also less certain in our view that the SEC would be willing to front the political capital necessary to support a denial,” wrote David Han, institutional research analyst at Coinbase.“Even if the first deadline on May 23, 2024 encounters a rejection,” he added, “we think there is a high likelihood that litigation could reverse that decision.”Last year, crypto fund manager Grayscale The SEC then reluctantly said yes to 11 Bitcoin ETFs on January 10. The investment products have since been massively successful, taking in billions of dollars of inflows. Edited by Andrew Hayward
