Currently, there is a big announcement about Bitcoin ETFs between US Banks and SEC in which it is written that the application for many Bitcoin ETFs is on the queue, and now on January 10, SEC is going to offer Bitcoin ETFs other than GrayScale or GBTC. Currently, the SEC has said that before offering BitcoinETFs, it wants to protect the money of top investors in Bitcoin, after investing in BitcoinETFs, a huge level of volatility can be generated in the Crypto market, which can lead to huge losses. There are chances of investors liquidating futures and daily trades and billions of USD. Currently, the SEC Bitcoin ETF application date is nearing due to which big US banks, institutions, crypto traders, SEC, and the US Treasury will also try every possible way to buy Bitcoin. Now it seems that SEC GrayScale has the chance to get approved Bitcoin ETFs first as Bitwise, Valkyrie, Invesco Galaxy, and WisdomTree have also lowered their fees for Bitcoin ETF approvals. For now, there is an opportunity to make a lot of investment in Bitcoin in the US and elsewhere in the world, but until SEC Bitcoin ETFs are launched, it will be very difficult for top investors to trade and hold Bitcoin long-term. By the way, GrayScale has approximately 800,000 Bitcoins in their GBTC Trust to get partnership with SEC and US Congress.
Why SEC will approve BitcoinETFs GrayScale or GBTC trust on 10 Jan 2024?
All types of Bitcoin ETF applications have been filed before the SEC, but Grayscale is being given better chances of getting Bitcoin ETFs because most of the time SEC and US Congress want to provide Bitcoin ETFs to Banking, Financial, and Assets Management in the future. First, the US Treasury will have to be strengthened so that it will have to give Bitcoin ETFs to GrayScale first because GrayScale and the US Government can do the partnership for Bitcoin. Because the US Congress and SEC also want to be made profitable in the future and they want to give Bitcoin ETFs, the US Treasury, GDP, Government and SEC should also be profitable and USD should also be made the World’s top most traded currency on Bitcoin and Crypto. Currently, US Congress members and top SEC investors have also bought more and more Bitcoin and they believe that at least 30% of the Bitcoin supply should be held by US top leaders, investors, congresspersons, and SEC members. For that, GrayScale has a very big opportunity that will help SEC and US Congress in the future so that USD and US Dominance can dominate the web3 market in the same way as it is doing on USD/GOLD today. And SEC knows that if SEC gave Bitcoin funds at this time, it would probably benefit the other top old Bitcoin whales and not SEC and USD.