There’s likely fewer than 30 days left before the crypto world’s inevitable leap into traditional finance offers digital-money proponents a path to redemption post-FTX.
That’s the bullish narrative in virtual-currency land as the clock ticks down to Jan. 10 – when US regulators must finally decide whether to greenlight a physically-backed Bitcoin ETF. The Securities and Exchange Commission will by that time be required to either accept or deny an application from Cathie Wood’s ARK Investment and 21Shares, who were the first to file during this year’s batch of applicants. It could at that time also rule on other similar filings. More than 10 companies are working toward getting these ETFs — which would directly hold Bitcoin — green-lit.
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