The US Securities and Exchange Commission (SEC) wants to broaden the definition of “exchanges” so that it can regulate cryptocurrency exchanges. Bloomberg analysts James Seyffart and Eric Balchunas believe the change “opens the door” for spot Bitcoin ETFs.
New note out on why we think spot Bitcoin ETFs will get approved in early Summer 2023. The SEC is proposing to expand the definition of “exchange” which would bring crypto platforms under SEC reg. After that (which could take a year) look for ETFs to get green light via @JSeyff pic.twitter.com/TtFgFXrJ8h
— Eric Balchunas (@EricBalchunas) March 24, 2022