The cryptocurrency world has been rife with anticipation regarding the potential approval of a Bitcoin spot ETF application by the U.S. Securities and Exchange Commission (SEC). John Reed Stark, a former official of the SEC, recently took to Twitter to share his perspective on this matter. In a comprehensive post, Stark outlined his reasons for believing that the current SEC might not be inclined to approve such an application in the foreseeable future.
Stark’s insights come at a time when the crypto industry is witnessing a surge in the number of Bitcoin spot ETF applications. These applications aim to provide investors with exposure to Bitcoin without the need to hold the cryptocurrency directly. If approved, a Bitcoin spot ETF would mark a significant milestone for the crypto industry, potentially attracting a broader range of institutional and retail investors.