Investors in the cryptocurrency market are closely watching the developments surrounding the Bitcoin (BTC) spot Exchange-Traded Fund (ETF), which is currently trending sideways as it awaits approval from the U.S. Securities and Exchange Commission (SEC). Valkyrie Funds has recently filed an amendment prospectus, indicating active backstage movements, according to Bloomberg analysts.
The SEC is scheduled to hold a closed-door meeting on November 2, its first since the Bitcoin Investment Trust (BITCO) launch leaks and following the deadline for Grayscale's appeal. The meeting will address several critical issues, including litigation matters, as noted by Attorney Scott Johnsson.
One of the key points of discussion is expected to be the SEC's case against Ripple, considering Ripple's leverage with documents related to a speech by former SEC official William Hinman. The court's impending deadline for a briefing schedule proposal on remaining charges against Ripple also adds significance to this matter. The SEC may have to make a decision on settlement terms related to the Programmatic Sales ruling that could potentially restrict an appeal.
Other topics that might be discussed include the SEC's case against Coinbase (NASDAQ:COIN) and the review process for the BTC-spot ETF.
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