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US SEC decision on spot ETFs could sway crypto markets

November 14, 2023


The cryptocurrency market is bracing for a significant regulatory decision as the US Securities and Exchange Commission (SEC) approaches a critical deadline that could see the approval or delay of 12 filed spot exchange-traded funds (ETFs) by November 17. This decision comes amid concerns over a potential government shutdown in December, which may influence the timing of the SEC’s ruling.

The approval of these ETFs is highly anticipated by the crypto community, as it could inject new capital into the market and potentially lead to inflated prices. However, there’s also apprehension about the possibility of a batch approval, which might cause excessive hype and volatility. Altcoins such as Celestia, Solana, and THORChain are considered to be most vulnerable to market shifts resulting from the SEC’s upcoming decision.