Coin circle news focus:

  • The U.S. regulatory SEC is reviewing multiple applications for Bitcoin spot ETFs, and the chairman emphasized: "No decision has been made yet."

  • South Korean regulators investigate Sui Foundation, SUI coin price drops to historic low

  • Bitcoin spot ETF approval imminent, analysts are divided

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Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.10.18 AM 08:00 ~ 2023.10.19 AM 08:00

Coin News Focus

The U.S. regulatory SEC is reviewing multiple applications for Bitcoin spot ETFs, and the chairman emphasized: "No decision has been made yet."

U.S. Securities and Exchange Commission SEC Chairman Gary Gensler said in an interview with Bloomberg TV on Wednesday that there are currently multiple (8 to 10) Bitcoin spot ETF applications before the SEC. These products are being reviewed by staff and the committee, and nothing has been announced yet. Conclusion.

Gensler, who chose not to comment when asked about last month's decision not to appeal Grayscale's ETF application, did not make clear whether regulators would approve a single agency or approve all applications at once. Finally, Gensler said that the SEC has a decades-long history and their professional team will continue to provide feedback to potential ETF issuers.

 

South Korean regulators investigate Sui Foundation, SUI coin price drops to historic low

According to foreign media reports, South Korean regulatory agencies are investigating the Sui Foundation, a developer of the Meta public chain, for suspected token supply manipulation. SUI coin prices are currently at all-time lows after this news became public, even though the Sui Foundation has stated that the accusations are "baseless." The investigation by the authorities is still ongoing and there is no further news.

SUI coin price was trading at $0.38 at press time, up 0.5% in the past 24 hours and down 6.7% in the past seven days.

 

Bitcoin spot ETF approval imminent, analysts are divided

Recently, a brief false news claimed that the SEC approved the application for a Bitcoin spot ETF, and the price of Bitcoin briefly rose to $30,000. K33 research analysts pointed out that it only took eight minutes for the price of Bitcoin to soar 7% due to false news this time. When BlackRock applied for a Bitcoin spot ETF in mid-June this year, Bitcoin rose 14% in a week. %. K33 analysts predict that actual approval may outpace the market reaction of both times, but if the application is rejected, the market is likely to plummet.

However, The Bitcoin Layer current affairs writers Joe Consorti and Nik Bhatia believe this is just a "trivial" increase. Therefore, they believe that the benefits of the approval of a Bitcoin spot ETF have already been fully reflected in the price of Bitcoin. Joe Edwards, head of research at Enigma, even said that the Bitcoin spot ETF is almost the only positive news for Bitcoin.

 

Other currency news

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