Many banks, AUMs, and institutions are now eyeing Bitcoin and unlike in 2023, it will not be so difficult to get Bitcoin ETFs in 2024. Big banks, investors, gold holders, and stakeholders are just waiting for this moment in which they will get the facility to trade in Bitcoin. On the other hand, BlackRock, Fidelity, and Grayscale are recently trying hard for Bitcoin ETF so that institutions want a facility like Bitcoin to invest in Bitcoin and save their future. As of now, the SEC has not decided whether there is any negative point about Bitcoin ETFs and whether there will be any further hearings on Bitcoin ETFs.
GrayScale, BlackRock, Fidelity will be get approved from SEC for Bitcoin ETFs.
But, it seems GrayScale wins, and turning to GrayScale has also made a similar result in the US Court. It is a very difficult time for GrayScale more than BlackRock and BlackRock would also like to get Bitcoin ETFs but it may be very difficult for the SEC to give Bitcoin ETFs now but if BlackRock, Fidelity, GrayScale if they have not won in the SEC then This issue can be taken to the US court because if they want they can take their own risk but the approval of SEC is very important.
Why SEC planning to adopt Bitcoin?
Many Former managers of the world’s biggest AUMs including BlackRock, Fidelity, and GrayScale, predict that Bitcoin ETFs will attract the approximately $1 Trillion Global Market Cap of Stocks and Forex in the first month of Bitcoin ETFs approves. In such a situation, no SEC member would want the value of his money to be lost and the world’s top traders would make Bitcoin the international currency in place of the Dollar. Due to this, some members of the SEC want to create a new framework above Bitcoin and want to create new investing platforms for the world in which big banks, AUMs, and financial money can be used for security.
Why SEC give First Bitcoin ETFs to GrayScale?
But recently the SEC has told Grayscale that there is no need to go to US court anymore and it will take some time for Grayscale to manage its financial conditions. Now it seems that the SEC may very soon approve the applications of BlackRock, Fidelity, Grayscale, and all pending Bitcoin ETFs and new terms and conditions will be set. Grayscale has many years of experience in Fiat/Forex and Bitcoin and GrayScale also has its own Grayscale Bitcoin Trust under GBTC under SEC in which it will provide Futures, Trades, and long-term facilities. Giving approval to GrayScale is very important for Bitcoin and BlackRock because GrayScale is a trusted member of the SEC and the SEC only trusts Grayscale to help all banks work at their GBTC trust to all AUMs.