simondixontwitt on Nostr: The correct way to interpret the @WSJ Click Bait #Bitcoin #ETF headline. Quoting ...
The correct way to interpret the @WSJ Click Bait #Bitcoin #ETF headline.
Quoting @MetaLawMan:
Rumors of the death of spot bitcoin ETFs may be exaggerated.
The @WSJ article that this is all based on says 2 things:
1. The SEC told NASDAQ and CBOE that "the filings aren't sufficiently clear and comprehensive."
2. The filings were being returned to the Exchanges "because they didn't name the spot bitcoin exchange with which they are expected to have a surveillance-sharing agreement or provide enough information about the details of those surveillance arrangements."
Point number 2 would appear to be easily remedied in revised filings.
Point number 1 is vague, but doesn't necessarily mean spot ETFs are dead.
But this is all guesswork because the SEC "declined to comment" on the @WSJ story.
Because the SEC refuses to explain publicly its objections to the recently filed ETF applications, investors are left to speculate based on leaks of information attributed to unnamed "people familiar with the matter."
This cloak of secrecy approach is counter to the SEC's stated mission to protect investors and promote fair, orderly and efficient markets.
Quoting @MetaLawMan:
Rumors of the death of spot bitcoin ETFs may be exaggerated.
The @WSJ article that this is all based on says 2 things:
1. The SEC told NASDAQ and CBOE that "the filings aren't sufficiently clear and comprehensive."
2. The filings were being returned to the Exchanges "because they didn't name the spot bitcoin exchange with which they are expected to have a surveillance-sharing agreement or provide enough information about the details of those surveillance arrangements."
Point number 2 would appear to be easily remedied in revised filings.
Point number 1 is vague, but doesn't necessarily mean spot ETFs are dead.
But this is all guesswork because the SEC "declined to comment" on the @WSJ story.
Because the SEC refuses to explain publicly its objections to the recently filed ETF applications, investors are left to speculate based on leaks of information attributed to unnamed "people familiar with the matter."
This cloak of secrecy approach is counter to the SEC's stated mission to protect investors and promote fair, orderly and efficient markets.