Cryptocurrencies Price Prediction: SEC, Shiba & Bitcoin ETF – American Wrap 9 January
SEC chair offers double dose of crypto investment advice ahead of possible spot Bitcoin ETF approvals
As the gap for spot Bitcoin exchange-traded funds (ETFs) continues to narrow, all eyes are peeled on the US Securities & Exchange Commission (SEC) with markets anticipating a decision on ETF approvals this week. The chair of the commission, Gary Gensler, is a person of interest on the subject, with the buck stopping with him to break the news even as the commissioners prepare for a vote, according to Reuters.
Shiba Inu, one of the largest meme coins in the crypto ecosystem, has noted a decline in its token supply on exchanges in the past six months. SHIB supply on exchanges hit its lowest level since July 2023 and typically this is considered a bullish sign for Shiba Inu price recovery.
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Bitcoin Spot ETF filers are engaged in a fee war, offering competitive rates to attract capital. Bitwise Invest offers the lowest fee at 0.24%, while GrayScale is set to charge the highest fee at 1.5%.
While market participants anticipate the US Securities and Exchange Commission (SEC) to approve one or many spot Bitcoin ETF applications by the January 10 deadline, the founder of the Chamber of Digital Commerce said that the regulator is likely to delay the decision on the securities product.
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