#SECETF审批 SEC Attitude Shift: The Deep Reasons Behind the Change from Rejection to Approval

The SEC has long rejected Bitcoin spot ETFs, primarily due to concerns about market manipulation and insufficient liquidity. Key factors in this attitude shift include:

Grayscale Victory: In August 2023, a court ruled that the SEC's decision to reject Grayscale's (GBTC) conversion to an ETF was "arbitrary," forcing the SEC to reevaluate.

Custody Solutions Matured: Compliant custodians like Coinbase have improved asset security and auditing processes.

Political Pressure: Ahead of the 2024 U.S. elections, lobbying from the crypto industry has intensified, with both parties seeking voter support.

This shift reflects the gradual normalization of cryptocurrency regulation, but vigilance is still needed regarding the SEC's stance on other tokens (such as ETH).