A couple of divergent opinions doing the rounds on Monday:
Bank of America:
- not optimistic about any imminent approval
- made the point that the SEC is skeptical about crypto trading platforms
And:
- “For a historical perspective, silver futures began trading in 1933, but the first spot silver ETP wasn’t approved until 2006"
On the other hand, TD:
- approval appears “inevitable”
- including Coinbase as a listed custodian in the fund applications is a positive for the ETF issuers
- “We believe approval may be getting closer as industry addresses the SEC’s concerns and the SEC looks to cement its authority over crypto. While a decision may be more than weeks or months away, we see this the start of the endgame in the push for a spot Bitcoin ETF”
Earlier post today:
Bitcoin update:
