SEC’s Bitcoin ETF Decision Could Encounter Delays, Warns Alex Kruger

Crypto enthusiasts are on the edge of their seats, eagerly anticipating the verdict from the U.S. Securities and Exchange Commission (SEC) concerning Ark Invest’s proposed Bitcoin Exchange-Traded Fund (ETF).

Industry Experts Jump In

Alex Kruger, a well-known figure in the crypto trading and economic circles, has taken to Twitter to share his thoughts on a pivotal event in the world of cryptocurrencies. His focus? The long-awaited decision by the U.S. Securities and Exchange Commission (SEC) regarding Ark Invest‘s proposed Bitcoin Exchange-Traded Fund (ETF).

Kruger points out that the possibility of a delay might have already been taken into consideration by those participating in the market. He suggests that regardless of the SEC’s ultimate decision—be it approval, denial, or a request for an extended review period—the market could be well-prepared for any of these outcomes.

Read More: SEC to Decide on Bitcoin ETFs Tomorrow: Is a Bull Run Close?

Kruger’s Perspective

Alex Kruger is closely monitoring the developments surrounding this significant event in the cryptocurrency sphere, shared his insights. While the application was initially submitted in May and the anticipated decision date is August 13, which falls on a Sunday, the regulatory body is poised to announce its conclusion on August 11.

Kruger’s recent statement is generating a buzz. He believes that regardless of the SEC’s response—approval, rejection, or a request for an extended review—it will not drastically alter the Bitcoin price trajectory.

SEC’s Stance

Over the years, the SEC has given the green light to multiple Bitcoin futures ETFs. However, its position against Bitcoin spot exchange-traded funds has remained steadfast. Even after rejecting Grayscale’s attempt to transform its Bitcoin fund into an ETF, the company pursued legal action against the regulatory body, seeking resolution through legal channels.