After ending the Monday session flat, BTC extended its winning streak to four sessions on Friday. The BTC-spot ETF story remained the tailwind, with investors hopeful of an imminent SEC approval of one, some, or all the applications.
On Wednesday, the window opened for the SEC to approve 12 BTC-spot ETFs by November 17. On Thursday, Bloomberg Intelligence analysts James Seyffart and Eric Balchunas released their latest market analysis. The ETF analysts believed there was a 90% chance of BTC-spot ETF approvals by January 10, 2024.
BlackRock (BLK) confidence in the imminent approval of the iShares Bitcoin Trust contributed to the gains. On Friday, Charles Gasparino from Fox said,
“SCOOP: BlackRock growing increasingly confident the SEC will approve its BTC ETF by January, sources tell Fox Business […].”
SEC Chair Gary Gensler Sends FTT Token Up 100%
SEC Chair Gary Gensler spoke to CNBC on Friday. Discussing the possibility of bringing FTX back to life, SEC Chair Gensler said,
“If Tom or anyone else wanted to be in this field, I would say do it within the law. Build the trust of investors in what you’re doing and ensure that you’re doing the proper disclosure and also that you’re not co-mingling all these functions, trading against your customers, or using their crypto assets for your own purposes.”
Investors reacted to the comments, with FTT Token surging 97% on Friday, ending the day at $4.3264.
Discussing regulation, Gensler continued to lay claim on the digital asset space, saying,
“There’s nothing about crypto that is incompatible with the securities laws. The securities laws are there to protect your viewers and the investing public so they get the proper disclosure and people aren’t using their funds on their behalf. And so, I think that we’ve got robust laws in the US.”