Prospects for ETH futures ETF approvals look bleak due to the current regulatory environment, including prominent Twitter cryptocurrency KOL AP_Abacus, it has been revealed.
However, if Grayscale wins the race, a spot bitcoin(BTC) ETF is likely to launch in 2024, even though other ETFs may be approved first.
Any attempt by the U.S. Securities and Exchange Commission (SEC) to overturn the approval of a BTC futures ETF would trigger a wave of lawsuits that are considered arbitrary and capricious.
The possible launch of a spot bitcoin ETF in the U.S. market in 2024 has drawn a lot of attention from the cryptocurrency community. Legitimate sources, including AP_Abacus, have revealed that due to the current regulatory environment, the chances of an ETH futures ETF being approved are slim. However, the outlook for spot BTC ETFs looks promising, with Grayscale leading the way.
The debate over ETFs has been a hot topic in the cryptocurrency industry, with proponents arguing they could bring more institutional money into the market and boost mainstream adoption. The SEC’s approval of a BTC futures ETF in 2021 is seen as an important milestone, but many believe that a spot BTC ETF will have a more significant impact on the market.
Legitimate sources mentioned by AP_Abacus suggest that if Grayscale’s efforts are successful, a spot BTC ETF could launch in 2024. This will be a breakthrough development in the cryptocurrency market as it will allow investors to gain exposure to Bitcoin without investing directly in the digital asset. This could lead to new opportunities for retail and institutional investors alike, and further legitimize the cryptocurrency industry.
However, it’s worth noting that other ETFs, such as those based on other cryptocurrencies or investment strategies, may be approved before spot BTC ETFs. The SEC has been cautious about ETFs due to concerns about market manipulation, volatility, and investor protection. Therefore, it remains to be seen how the regulatory landscape will evolve and whether spot BTC ETFs will actually be launched in 2024.
If the SEC tries to revoke the approval of the BTC futures ETF, expect a series of lawsuits to ensue. Legal experts warn that such a move could be seen as arbitrary and capricious, and could face significant legal challenges. The outcome of such litigation could have significant implications for the future of ETFs and the broader cryptocurrency market.
If Grayscale’s efforts are successful, a spot BTC ETF could be approved. However, the regulatory environment remains unclear and the approval of other ETFs may affect the timeline of spot BTC ETFs.
The possibility of legal challenges also adds another layer of complexity to the situation in any attempt to revoke ETF approval. The cryptocurrency industry will be watching developments in the ETF space closely as it could have a significant impact on the future of cryptocurrencies as a mainstream investment asset.