SEC Delays Fail To Stop BTC As Price Clears $38,000

1:22 pm
November 29, 2023
Featured image for “SEC Delays Fail To Stop BTC As Price Clears $38,000”

**Summary:**
Despite the Securities and Exchange Commission’s (SEC) delay in deciding on Templeton and Hashdex’s Spot Bitcoin ETF applications, Bitcoin surged past $38,000. The SEC’s move to delay the ETFs sparked speculations in the market; however, analysts believe that this delay could potentially set the stage for a wave of approvals in early January. Institutional money continues to pour into the crypto market, indicating investors’ confidence in an imminent approval.

The SEC’s latest decision puzzled many as it wasn’t due until January 1, 2024, leading to speculations about whether this implies an impending approval. Some analysts are interpreting this move as a positive sign, suggesting it could lead to a series of approvals in the near future.

**SEC Delays Fail To Dampen BTC As It Surges Past $38,000 Despite The SEC’s Move To Delay Spot Bitcoin ETFs**
The Securities and Exchange Commission’s (SEC) recent announcement to postpone its decision on two Spot Bitcoin ETFs by Templeton and Hashdex did not hinder the progress of Bitcoin, the leading cryptocurrency, as its value exceeded $38,000. The delay, accompanied by an invitation for comments on concerns of fraud and manipulation, failed to hinder the market’s momentum.

Despite the delay, the crypto market showed resilience, with Bitcoin surging past $38,000 and other cryptocurrencies also experiencing gains. This unexpected outcome is notable, given that the recent market momentum has largely been linked to the potential approval of a Spot Bitcoin ETF. CoinShare’s report highlighted a significant influx of institutional capital into the crypto market last week, reinforcing the market’s optimism.

The unexpected delay by the SEC, particularly as the decision wasn’t due until January 1, 2024, has sparked various speculations regarding the likelihood of an impending approval. However, some analysts view this delay as potentially favorable; they believe it may pave the way for a series of approvals in early January, indicating a positive turn of events for the market.

**FAQs**

**1. What is the significance of the SEC’s delay on the Spot Bitcoin ETFs?**
The SEC’s decision to delay its ruling on two Spot Bitcoin ETFs by Templeton and Hashdex has prompted speculations and debates in the crypto market. While it initially caused uncertainty, some analysts perceive this delay as a potential precursor to a series of approvals in the near future.

**2. Why did Bitcoin’s price surge past $38,000 despite the SEC’s delay?**
Bitcoin’s resilience and upward trajectory, despite the SEC’s delay, have been attributed to the influx of institutional capital into the crypto market. This indicates investors’ confidence in an imminent approval, despite regulatory uncertainties.

**3. When was the SEC’s decision on the Spot Bitcoin ETFs originally due?**
The SEC’s decision on the Spot Bitcoin ETFs by Templeton and Hashdex wasn’t expected until January 1, 2024. The unexpected delay has led to discussions about its implications and potential outcomes for the market.

**Sources:**
– Bitcoinist: [SEC Delays Fail To Stop BTC As Price Clears $38,000](https://bitcoinist.com/bitcoin-rise-hinges-on-etf-approval-analyst/)
– Bitcoinist: [Trillion-Dollar Spot Bitcoin ETF](https://bitcoinist.com/trillion-dollar-spot-bitcoin-etf/)
– Bitcoinist: [Hashdex Bitcoin Spot ETF Unique Application](https://bitcoinist.com/hashdex-bitcoin-spot-etf-unique-application/)
– Medium: [Volume 159 Digital Asset Fund Flows Weekly Report](https://jbutterfill.medium.com/volume-159-digital-asset-fund-flows-weekly-report-0103828f4a3d)

*This article is based on the existing article titled “SEC Delays Fail To Stop BTC As Price Clears $38,000” from Bitcoinist.com.*


Share:

More in this category ...

11:58 am February 23, 2024

730K Investors Exit Despite Record $7B Inflows

Featured image for “730K Investors Exit Despite Record $7B Inflows”
10:49 am February 23, 2024

Tokenized Securities: Understanding the Impact on Traditional Financial Markets

7:08 am February 23, 2024

Enhance Your Technical Team’s Skills with Practical Technology Training

3:19 am February 23, 2024

Blockchain 101: An Essential Guide for Artists and Creators on Copyright Protection

3:05 am February 23, 2024

Binance Labs invests in EigenLayer restaking protocol Renzo

12:01 am February 23, 2024

Is Bitcoin’s Bullish Streak Sustainable?

Featured image for “Is Bitcoin’s Bullish Streak Sustainable?”
7:53 pm February 22, 2024

Paris Saint-Germain (PSG) Becomes First Football Club to Officially Validate a Blockchain

7:46 pm February 22, 2024

Innovations in Music Distribution: Understanding Decentralized Streaming Protocols

7:28 pm February 22, 2024

Operationalizing Ethical AI in Defense: A Holistic Approach

12:41 pm February 22, 2024

JasmyCoin rallies 295% as Bitcoin Dogs take the crypto stage by storm

12:14 pm February 22, 2024

The Future of Diamond Trading: Disrupting Traditional Channels with Blockchain

12:03 pm February 22, 2024

Apecoin Climbs To 6-Month High Amidst Whales’ Strategic Moves

Featured image for “Apecoin Climbs To 6-Month High Amidst Whales’ Strategic Moves”
7:50 am February 22, 2024

Polygon and StarkWare unveil Circle STARKs to streamline Zk Proofs

5:29 am February 22, 2024

Lido adds support for 1inch as withdrawal aggregator

4:44 am February 22, 2024

Unlocking the Value of Tokenized Data in Health Research and Analytics

12:05 am February 22, 2024

Is Ethereum Overvalued, Similar ‘To Meme Coins Like Shiba Inu’?

Featured image for “Is Ethereum Overvalued, Similar ‘To Meme Coins Like Shiba Inu’?”
10:17 pm February 21, 2024

Binance Introduces Portal (PORTAL) to Launchpool for Crypto Gaming

9:15 pm February 21, 2024

Smart Contracts and Blockchain: Transforming Sustainable Supply Chains

3:03 pm February 21, 2024

Brad Garlinghouse Optimistic about Ripple’s Future, Says Ripple Will Welcome XRP ETF

1:44 pm February 21, 2024

From Trust to Security: The Case for Decentralized Identity Management Systems

12:08 pm February 21, 2024

Render Token Surges 60% In a Month, Gains Traction with Investors

Featured image for “Render Token Surges 60% In a Month, Gains Traction with Investors”
8:29 am February 21, 2024

Climate change predictions: Anticipating and adapting to a warming world

7:51 am February 21, 2024

Starknet’s STRK sees volatile market debut following airdrop

6:14 am February 21, 2024

Securing the Food Supply: How Blockchain is Combating Counterfeit Products

12:39 am February 21, 2024

Analysts say $3k “a relatively small obstacle”

12:11 am February 21, 2024

Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge

Featured image for “Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge”
10:44 pm February 20, 2024

The Potential of Tokenized Derivatives: Unlocking New Opportunities for Investors

8:40 pm February 20, 2024

How IBM is using Real User Monitoring and DNS to deliver premium Global Server Load Balancing for business-critical applications 

5:27 pm February 20, 2024

Human Institute Teams Up with Polygon Labs and Animoca Brands to Introduce ZKP-Powered Palm Recognition Technology

3:16 pm February 20, 2024

The Future of E-Commerce: Unleashing the Potential of Blockchain Technology