Perianne Boring has stated that the reason for the delay could be the recent changes made to the applications by some potential fund creators and investment companies. Boring believes that the SEC will require more time to approve these changes, and as a result, will not be able to complete all necessary procedures before the end of the week.
SPOT BITCOIN ETF UPDATE: The SEC just issued additional comments on pending applicant's S-1s. This is a delay signal. #BitcoinETF #bitcoin
— Perianne (@PeriannDC) January 9, 2024
While Boring hopes her prediction is incorrect, she acknowledges that SEC Chairman Gary Gensler and the expert committee still have the authority to further delay the final decision. Boring believes that the SEC has various means at its disposal to hinder the entry of spot Bitcoin ETFs into the market and is not willing to concede without a battle.
According to the current regulations, each SEC panel member is entitled to their own opinion, even if a majority has previously approved a decision.
Analyst Markus Thielen from Matrixport speculates that the SEC may be reluctant to make a positive decision regarding the approval of trading spot Bitcoin ETFs.