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    US SEC Could Approve Spot Bitcoin ETF as early as November

    “Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoin ETFs would no longer be valid, likely clearing the way for approval,” according to Bloomberg ETF analysts Eric Balchunas and James Seyffart.

    The analysts said that a proposed rule change to the SEC’s regulatory framework could bring crypto exchanges under the regulatory definition of “exchange,” opening the door for approval of a spot Bitcoin ETF.

    “Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoin ETFs would no longer be valid, likely clearing the way for approval,” said the analysts.

    It may also be possible that this could open the door to other spot cryptocurrency ETFs that trade on these exchanges.

    According to the analysts, the amendment could be finalized between November 2022 and May 2023.

    The SEC has been widely criticized for rejecting all Bitcoin spot ETF, while approving an arguably more risky and higher fee Bitcoin Futures ETF.

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