SEC's Spot Bitcoin ETF Decision Sparks Fears! Better Markets Sounds the Alarm on Potential 'Financial Carnage',Concerns are mounting as Better Markets, a financial watchdog group, urges the Securities and Exchange Commission to tighten the brakes on Bitcoin exchange-traded funds, predicting “financial carnage” and “enormous investor damage.” The SEC's decision, set to drop early next week, has the cryptocurrency community on edge. Prepare for impact as the drama unfolds, with trading likely to begin on January 11.

Will SEC Reject Spot Bitcoin ETF Applications?

Crypto Community on Edge as Better Markets Sounds Alarm Bells on Bitcoin ETFs! SEC Decision Nears, Better Markets has sent shockwaves through the crypto sphere. The financial watchdog group is urging the SEC to slam the door on spot Bitcoin ETFs, predicting potential 'financial carnage' and 'massive investor harm.' With Senator Elizabeth Warren in the mix and the CEO's close ties to SEC Chairman Gary Gensler, the stakes are high.

A revelation about the SEC's non-vote sparked speculation of a 'rug pull,' but analyst Eric Balchunas dashes those fears. He dives deep into the SEC's history, highlighting that Bitcoin ETFs have never faced a traditional vote. The method remains 'Delegated Authority,' setting the stage for a unique crypto saga. The looming deadline for a decision adds an extra layer of intensity, with key players like Ark Invest and 21shares in the spotlight.

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As the SEC gears up for the spotlight decision on spot Bitcoin ETFs early next week, Balchunas breaks down the intricate details. The final S-1 filings are due Monday at 8 a.m., signaling a race against time to align the launch for Jan. 11.

Will the SEC give the green light, or are we in for a last-minute twist? The suspense is now palpable, and the crypto world holds its breath.