The stance of the United States Securities and Exchange Commission (SEC) on Bitcoin spot ETFs has been the subject of extensive debate and speculation. John Reed Stark, who serves as the President of John Reed Stark Consulting LLC and was previously the Chief of the SEC Office of Internet Enforcement, has carried out an analysis on Twitter. His findings suggest that the 2024 U.S. Presidential Election could represent a pivotal moment in shaping the SEC’s policy towards Bitcoin spot ETFs.
Position of the SEC Right Now
According to the insights that Stark divulged on the 13th of August 2023, it is very improbable that the present SEC would accept any Bitcoin spot ETF applications. He provides strong reasons, such as worries about market manipulation and the susceptibility of planned spot bitcoin-based exchange-traded products (ETPs). These concerns were also brought up by the independent analysts working for Better Markets in their…
