Posted 11/17/2023, 2:53:00 PM
SEC Spot Bitcoin ETF Approval Uncertain Despite Recent Rally, Concerns Over Custody and Manipulation Risks
- BitGo CEO says SEC likely to reject spot bitcoin ETFs due to lack of separation between exchanges and custody
- SEC has rejected numerous ETF applications over concerns about manipulation and customer protection
- Coinbase selected as custody partner by several ETF applicants, but risks not fully understood
- Analysts estimate 90% chance of ETF approval in January despite past rejections
- Price of bitcoin has rallied 45% since BlackRock filed spot bitcoin ETF application in June