The capitalization of bitcoin today dropped to $569 billion, representing 48.7% of the cryptocurrency market. The total market capitalization recorded at the moment is $ 1,169 billion, down $ 5 billion compared to 24 hours ago. At the same time, the 24-hour trading volume on the market increased by 17.67% compared to August 13, reaching 19.68 billion USD.
Former SEC official asserts bitcoin ETF will not be approved soon
According to Decrypt, former Securities and Exchange Commission (SEC) prosecutor John Reed Stark thinks the SEC will not accept an application to open a spot bitcoin ETF, despite efforts from the Street giants. Wall.
“I believe that the SEC will currently not accept applications for spot ETFs for a variety of compelling reasons,” said Mr. ).
Mr. Stark referred to a letter from Washington-based nonprofit Better Markets to the SEC, urging the agency not to change the rules for a spot bitcoin ETF to be listed. Better Markets argues that bitcoin is prone to manipulation, is too centralized, and is "too much dependent on a select group" to maintain the network.
Since 2013, the SEC has not allowed the opening of spot bitcoin ETFs, but still allows futures.
In addition, Mr. Stark also made a forecast on the lines and policies of the SEC after the 2024 Presidential election. He believes that if a Republican candidate wins, the government is likely to have take a more crypto-friendly stance and may approve a spot bitcoin ETF.
Former SEC official asserts bitcoin ETF will not be approved soon
According to Decrypt, former Securities and Exchange Commission (SEC) prosecutor John Reed Stark thinks the SEC will not accept an application to open a spot bitcoin ETF, despite efforts from the Street giants. Wall.
“I believe that the SEC will currently not accept applications for spot ETFs for a variety of compelling reasons,” said Mr. ).
Mr. Stark referred to a letter from Washington-based nonprofit Better Markets to the SEC, urging the agency not to change the rules for a spot bitcoin ETF to be listed. Better Markets argues that bitcoin is prone to manipulation, is too centralized, and is "too much dependent on a select group" to maintain the network.
Since 2013, the SEC has not allowed the opening of spot bitcoin ETFs, but still allows futures.
In addition, Mr. Stark also made a forecast on the lines and policies of the SEC after the 2024 Presidential election. He believes that if a Republican candidate wins, the government is likely to have take a more crypto-friendly stance and may approve a spot bitcoin ETF.
