As the crypto market heats up in anticipation of a bitcoin spot ETF approval in the U.S., Katherine Dowling, basic counsel and chief compliance officer at Bitwise Asset Management, is anticipating good luck in the brand new yr.
“I have great hopes for 2024,” Dowling mentioned on Ztoog’s Chain Reaction podcast. “My spidey sense is that they’re looking at January.”
The SEC missed its Friday deadline to enchantment the August courtroom resolution relating to changing Grayscale’s Bitcoin Trust (GBTC) right into a bitcoin spot ETF.
There have been a variety of obstacles in the way in which, together with the lawsuit, that most likely inhibited dialogue with regulators. “So the fact that we have resolution for that and that most recently they’re not taking an appeal stance is actually a great step forward.”
Dowling additionally famous there was some engagement from the SEC with crypto S-1 filings, and amendments have been made there, too. “That all suggests some forward motion, and we had some hints that there wasn’t going to be an appeal” resulting from prior talks of a possible authorities shutdown.
Bitwise is a crypto asset supervisor that’s recognized for creating the world’s largest crypto index fund. The agency additionally filed for a bitcoin spot ETF in the U.S., making it one among various companies, like BlackRock, whose functions are pending after the SEC delayed its choices.