{"id":59527,"date":"2023-09-11T09:22:37","date_gmt":"2023-09-11T13:22:37","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoins-worst-case-scenario-an-etf-that-takes-years\/"},"modified":"2023-09-11T09:22:41","modified_gmt":"2023-09-11T13:22:41","slug":"bitcoins-worst-case-scenario-an-etf-that-takes-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=59527","title":{"rendered":"Bitcoin’s Worst Case Scenario: An ETF That Takes Years"},"content":{"rendered":"
\n

A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it gets complicated is how long that will take if the Securities and Exchange Commission decides to fight.<\/p>\n

In a worst-case scenario, the SEC could delay the launch of Bitcoin ETFs for two years or longer, Compass Point Research & Trading analysts wrote in a note on Friday.<\/p>\n

\n

\u201cSEC Chair Gary Gensler has been so firmly against any actions that help crypto that it\u2019s hard to imagine him just rolling over and approving spot BTC ETF applications without a fight,\u201d the analysts wrote, while also arguing that the court \u201cleaves little room\u201d for the SEC to ultimately win.<\/p>\n

The SEC didn\u2019t respond to a request for comment. On the day of the decision, the agency said it was reviewing the ruling to determine next steps.<\/p>\n

In August, a panel of judges said that the SEC erred when it rejected a bid by Grayscale Investments to convert the
\n Grayscale Bitcoin Trust
\n (ticker: GBTC) into an ETF. The SEC had argued that there\u2019s insufficient surveillance on trading platforms to detect fraud and manipulation. The court said the agency acted arbitrarily by rejecting the GBTC application on those grounds while also approving the issuance of ETFs that hold
\n Bitcoin
\n futures tied to the same underlying market.<\/p>\n

But even with the decision, the SEC can still resist, the analysts wrote. For one, the agency has until Oct. 13 to ask for an \u201cen banc\u201d hearing to challenge the ruling in front of all the judges in the U.S. Court of Appeals for the D.C. Circuit.<\/p>\n

If the agency loses at that level or if the court declines to take the case, the agency can appeal to the Supreme Court. If that avenue is a dead end, the SEC could attempt to reject GBTC\u2019s application or those of other would-be Bitcoin ETF issuers like
\n BlackRock
\n (BLK) or Fidelity on different grounds, which would likely lead to more lawsuits. <\/p>\n

Even putting aside the court battles, the agency typically has as long as 240 days to accept or reject the sorts of rule changes that the ETF issuers are seeking to allow their products to come to market.<\/p>\n

All in all, the weapons at the SEC\u2019s disposal could delay a Bitcoin ETF for more than two years, the analysts wrote. <\/p>\n

Whether or not the SEC will ultimately go that route is another matter, and the agency will likely find it \u201cpolitically untenable\u201d to keep fighting, the analysts said.<\/p>\n

The SEC faces a deadline of Jan. 10 to decide whether or not to allow the listing of a Bitcoin ETF issued by Cathie Wood\u2019s ARK Investment Management and 21Shares. Decisions on applications by BlackRock and other issuers are due in the months after, but the agency could decide to approve all the applications at once to avoid the appearance of favoring one company over another.<\/p>\n

The SEC\u2019s decision due Oct.13 to request or eschew the en banc hearing will say a lot about whether the first Bitcoin ETF will take months or years. <\/p>\n

Bitcoin has been trading in a narrow range around $25,500 as traders await the SEC\u2019s next move.<\/p>\n

Write to Joe Light at joe.light@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it gets complicated is how long that will take if the Securities and Exchange Commission decides to fight. In a worst-case scenario, the SEC could delay the launch of Bitcoin ETFs […]<\/p>\n","protected":false},"author":1,"featured_media":59528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-59527","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=59527\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=59527\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T13:22:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-11T13:22:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694438559_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59527#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59527\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bitcoin’s Worst Case Scenario: An ETF That Takes Years\",\"datePublished\":\"2023-09-11T13:22:37+00:00\",\"dateModified\":\"2023-09-11T13:22:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59527\"},\"wordCount\":566,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59527#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59527\",\"url\":\"https:\/\/ifintechworld.com\/?p=59527\",\"name\":\"Bitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-11T13:22:37+00:00\",\"dateModified\":\"2023-09-11T13:22:41+00:00\",\"description\":\"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59527#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59527\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59527#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin’s Worst Case Scenario: An ETF That Takes Years\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld","description":"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=59527","og_locale":"en_US","og_type":"article","og_title":"Bitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld","og_description":"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it","og_url":"https:\/\/ifintechworld.com\/?p=59527","og_site_name":"iFintechWorld","article_published_time":"2023-09-11T13:22:37+00:00","article_modified_time":"2023-09-11T13:22:41+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694438559_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=59527#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=59527"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Bitcoin’s Worst Case Scenario: An ETF That Takes Years","datePublished":"2023-09-11T13:22:37+00:00","dateModified":"2023-09-11T13:22:41+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=59527"},"wordCount":566,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=59527#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=59527","url":"https:\/\/ifintechworld.com\/?p=59527","name":"Bitcoin's Worst Case Scenario: An ETF That Takes Years | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-11T13:22:37+00:00","dateModified":"2023-09-11T13:22:41+00:00","description":"A crypto industry court victory in late August made it all but inevitable that a Bitcoin exchange-traded fund will eventually come to market. Where it","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=59527#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=59527"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=59527#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin’s Worst Case Scenario: An ETF That Takes Years"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59527"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59527\/revisions"}],"predecessor-version":[{"id":59529,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59527\/revisions\/59529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/59528"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}