TD Cowen: SEC to Approve Spot Bitcoin ETF Due to "Political Necessity"

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2024/01/02 22:16

Investment bank TD Cowen states that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF by the January 10 deadline due to "political necessity." The TD Cowen Washington research team, led by Jaret Seiberg, wrote in a report, "For us, this is political necessity because the agency needs to solidify its role as a cryptocurrency regulator before Congress considers broader crypto legislation. We also believe the agency does not want to face a legal challenge for denying a Bitcoin ETF approval."

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