Bitcoin entered in strong resistance zone of $47.000 again before tomorrow's final SEC decision about Ark Invest and 21 shares spot Bitcoin ETFs. Valkyrie CIO signalled 95% probability of spot ETF approval and Fox Business reporter, Charles Gasparino cited anonymous sources in top US securities lawyers who deal with the SEC.
- As we can read in the Gasparino's statement recent crypto warnings by the SEC chair, Gary Gensler may be a prelude to the imminent spot Bitcoin ETF approval and should be taken as a warning to investors because that's what the SEC as the agency usually does. Gensler signalled on X that Bitcoin is a speculative, volatile asset and other digital assets 'are not the same as BTC'. SEC chair signalled also that governments may take regulatory steps that are bad for Bitcoin and crypto ecosystem has been populated 'by lawbreakers'.
On the other hand, Gensler's comments may also signal that agency is still skeptical about Bitcoin as a both speculative and transaction-used asset. SEC didn't comment any speculation about final Bitcoin ETF decision and theoretically it still could be negative for issuers, but in this case the reason should be another than previously cited by the regulators.
Source: xStation5
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