{"id":85968,"date":"2023-11-18T04:42:36","date_gmt":"2023-11-18T09:42:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/another-round-of-bitcoin-spot-etf-rejections-likely-bitgo-ceo\/"},"modified":"2023-11-18T04:42:39","modified_gmt":"2023-11-18T09:42:39","slug":"another-round-of-bitcoin-spot-etf-rejections-likely-bitgo-ceo","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85968","title":{"rendered":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO"},"content":{"rendered":"<div>\n<figure id=\"attachment_133118\" aria-describedby=\"caption-attachment-133118\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-133118\" class=\"wp-caption-text\">Source: BitGo\/Canva<\/figcaption><\/figure>\n<p>The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following Grayscale\u2019s significant legal victory against the SEC.<\/p>\n<p>However, BitGo\u2019s CEO, Mike Belshe, feels otherwise.<\/p>\n<p>Making his opinion known in a Bloomberg Crypto interview, Belshe noted that the US Securities and Exchange Commission (SEC) might end up rejecting a number of spot Bitcoin ETF applications before approvals begin to stream in.<\/p>\n<p>Providing the reason for his pessimistic view, the BitGo Chief explained that there is an apparent lack of separation between crypto exchanges and custodial service providers.<\/p>\n<p>He highlighted the example of Coinbase, which has been selected by a number of ETF applicants as their custodial partner.<\/p>\n<p>Asset management firms like BlackRock and Valkyrie have chosen the popular crypto exchange as their Bitcoin custodians.<\/p>\n<p>According to Belshe, the traditional financial landscape often separates exchanges from custodians, and the fact that most applicants are not adhering to this age-long market practice could see their efforts go uncompensated.<\/p>\n<p>Hence, the SEC would require all spot Bitcoin ETF applicants to separate the exchanges from the custodial services before any meaningful step forward can be made.<\/p>\n<p>The financial market has witnessed a surge in interest in Bitcoin spot ETFs in recent months, with major players such as BlackRock, Valkyrie, WisdomTree, Grayscale, Fidelity, and Ark Invest seeking regulatory approval from the SEC.<\/p>\n<p>While the SEC has been reluctant, citing concerns about market manipulation and customer protection, financial market analysts are growing more optimistic about a favorable ruling in the coming weeks.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Okay, we&#8217;re nearing in on deadline dates for 3 spot <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>  ETF applications. I want to get ahead of it because there&#8217;s a pretty good chance we&#8217;ll see delay orders from the SEC. Delays WOULD NOT change anything about our views &amp; 90% odds for 19b-4 approval by Jan 10, 2024 <a rel=\"nofollow\" href=\"https:\/\/t.co\/LE7sOlHAHM\">pic.twitter.com\/LE7sOlHAHM<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1724469793422508533?ref_src=twsrc%5Etfw\">November 14, 2023<\/a><\/p>\n<\/blockquote>\n<p>According to Bloomberg\u2019s ETF analyst James Seyffart, a spot Bitcoin ETF approval has a 90% chance of being approved in January 2024.<\/p>\n<h2>BlackRock Files S-1 Form for Spot Ethereum ETF<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>While Bitcoin often takes the spotlight, the Ethereum smart contract network, its close competitor, is also attracting attention from major asset management firms, including BlackRock, the world\u2019s largest asset management firm.<\/p>\n<p>According to an S-1 form filed with the SEC, BlackRock has notified the US agency of its intentions to provide investors access to the performance of the price of Ether \u2013 the native cryptocurrency of the Ethereum blockchain.<\/p>\n<p>Called the iShares Ethereum Trust, investors will be able to track the price performance of Ethereum without directly owning the underlying asset.<\/p>\n<p>This allows for optimum flexibility and removes the need to store the digital asset.<\/p>\n<p>Speaking on its custodial partner, BlackRock highlighted that the Coinbase exchange would handle this aspect just like it does for its spot Bitcoin ETF.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Blackrock just took the first steps to register a spot Ethereum ETF <\/p>\n<p>this is gentlemen <a rel=\"nofollow\" href=\"https:\/\/t.co\/PEgYMljOCJ\">pic.twitter.com\/PEgYMljOCJ<\/a><\/p>\n<p>\u2014 RYAN S\u039eAN ADAMS \u2013 rsa.eth (@RyanSAdams) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/RyanSAdams\/status\/1722633353067680189?ref_src=twsrc%5Etfw\">November 9, 2023<\/a><\/p>\n<\/blockquote>\n<p>BlackRock\u2019s official filing is the first step in the ETF approval process.<\/p>\n<p>Subsequent stages will involve the $10 trillion asset manager seeking approval from the Trading and Markets Division of the SEC for its 19b-4 filing, as well as the Corporate Finance division on its S-1 filing or prospectus.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/another-round-of-bitcoin-spot-etf-rejections-likely-bitgo-ceo.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following Grayscale\u2019s significant legal victory against the SEC. However, BitGo\u2019s CEO, Mike Belshe, feels otherwise. Making his opinion known in a Bloomberg Crypto interview, Belshe noted that the US Securities and Exchange Commission (SEC) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-85968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following\" \/>\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=85968\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=85968\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-18T09:42:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-18T09:42:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1700243002-belshe.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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=85968#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85968\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO\",\"datePublished\":\"2023-11-18T09:42:36+00:00\",\"dateModified\":\"2023-11-18T09:42:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85968\"},\"wordCount\":585,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=85968#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=85968\",\"url\":\"https:\/\/ifintechworld.com\/?p=85968\",\"name\":\"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-18T09:42:36+00:00\",\"dateModified\":\"2023-11-18T09:42:39+00:00\",\"description\":\"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=85968#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=85968\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=85968#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO\"}]},{\"@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":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld","description":"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following","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=85968","og_locale":"en_US","og_type":"article","og_title":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld","og_description":"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following","og_url":"https:\/\/ifintechworld.com\/?p=85968","og_site_name":"iFintechWorld","article_published_time":"2023-11-18T09:42:36+00:00","article_modified_time":"2023-11-18T09:42:39+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1700243002-belshe.png","type":"image\/png"}],"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=85968#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=85968"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO","datePublished":"2023-11-18T09:42:36+00:00","dateModified":"2023-11-18T09:42:39+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=85968"},"wordCount":585,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=85968#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=85968","url":"https:\/\/ifintechworld.com\/?p=85968","name":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-18T09:42:36+00:00","dateModified":"2023-11-18T09:42:39+00:00","description":"Source: BitGo\/Canva The general belief amongst market experts is that a Bitcoin spot exchange-traded fund (ETF) approval is on the horizon following","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=85968#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=85968"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=85968#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Another Round of Bitcoin Spot ETF Rejections Likely: BitGo CEO"}]},{"@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\/85968","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=85968"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/85968\/revisions"}],"predecessor-version":[{"id":85970,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/85968\/revisions\/85970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/85969"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}