SEC Seems To Be Slowly Giving Up Its Battle Against The Bitcoin ETF

The SEC has been under fire in the crypto space because of security claims they have been doing and the battle against the Bitcoin exchange traded fund.

After several attempts by several funds to make an ETF a reality, it still didn't became a reality, all attempts were shut down by the SEC. Now the SEC seems to be losing its momentum, the truth is that there's a lot of pressure to make an ETF a reality.

After an order was given to request a review of an application by Grayscale to turn its Bitcoin trust in an ETF, the SEC chose not to appeal this reviewing. This is a substancial advance in the SEC ruling, as it means that they are prone to accept a Bitcoin ETF.

Maybe the SEC is just losing hope in their claims against cryptocurrencies in general, there's a lot of claims made by the SEC that just don't make sense in this space, the security claims doesn't apply to a cryptocurrency, Defi can't be controlled in the way they want because it was made to be decentralized, Bitcoin ETFs are inevitable since all the biggest funds in the world want it.

It seems like a losing fight for the SEC and it's also a losing fight for the United States in general since they are losing this market to other countries because of their policy against cryptocurrencies. Everything was in place for the United States to be an incubator of crypto projects and somehow they seem to be blowing their oportunity. A lot can be blamed on Gary Gensler who is always fighting a war against this space.

The reality is that these big trust funds handling Bitcoin is against Bitcoin's philosofy, but it seems inevitable to happen. The general user can always fight this by buying Bitcoin and transfering it to their wallet, this way people can get part of the cake that can never be given to these big funds.

The Bitcoin ETF probably will give an huge boost in the next bull run, with other factors it might lead the Bitcoin price to another all time high.