Bitcoin ETF approvals are expected to get delayed in the U.S.A. However, Europe has taken a different approach.
In contrast, Europe approved its first spot BTC ETF, taking the lead in terms of crypto regulation.ETF proposals laid out by various institutions has kept traders on the edge of their seats. As U.S. regulation dawdles, Europe has given the crypto community some respite with its latest approval.Despite the uncertainty around ETF approvals in U.S., Europe was more willing to give BTC a chance.Europe’s inaugural spot bitcoin ETF on Euronext Amsterdam.
Surveillance-sharing agreements allow for the sharing of information about market trading activity, clearing activity, and customer identification, with little possibility of market manipulation. However, the SEC is still unsure of the Bitcoin spot ETF. The approval for Ark Invest’s spot ETF was delayed by the SEC for another 21 days.
As a result, the SEC could extend Bitcoin ETF approval deadlines to early 2024. The SEC can utilize a maximum 240-day window to delay crypto ETF applications, potentially leading some companies to await decisions until March 2024 for filings submitted in July 2023.In a recent report, Bernstein, a brokerage firm, highlighted that crypto ETFs create demand in the spot market and signal regulatory approval, boosting retail and institutional flows seeking legitimacy.
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