– The SEC is facing deadlines to decide on seven new Bitcoin spot ETF applications, with the latest deadline being Sept. 4.
– Bitwise will learn if its ETF will win approval on Sept. 1, while BlackRock, VanEck, Fidelity, Invesco, Wisdomtree, and Valkyrie will await decisions by Sept. 2 and Sept. 4.
– The recent ruling in favor of Grayscale’s application increases the odds of success for the next wave of applicants, according to Bloomberg ETF analyst James Seyffart.
– The SEC has 90 days to file an appeal or apply for an En banc review following the Grayscale decision.
– The SEC’s options post-Grayscale decision are to approve Grayscale’s application or deny it based on a new argument.
– The revocation of Bitcoin futures ETFs is considered highly unlikely due to the SEC’s reported openness to Ethereum futures ETFs.