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Originally Posted by SootedPowa
It would seem unlikely this changes any decision (which has surely already been made) on the ETFs?
Can they just delay it and make everyone wait some more months? Have no idea how the approval process works. If not surely its still getting approved. They could say no to the Winklevoss twins but they can't say no to Blackrock one would think.
Regardless, complete clown show. Sloppy.
They need to approve or reject the ark21 shares application by tomorrow, Jan 10. They can't delay it any more. If they reject it, they need to provide reasons and they are pretty much out of reasons. Grayscale won in court the other month and the judge called the court arbitrary and capricious and that their reasons given weren't valid, or more precisely they need to treat like products alike, and since already approved btc futures etf, they have no grounds to reject the spot ETF.
That being said, sec can still reject and then take their lumps in court.
The next batch of final deadlines for approval is Mar 14/15.
Given all the work that's been put in, and responses, comments, filings, amendments, etc. analysts' view still seems quite confident will be approved tomorrow. We'll see.