While I believe that we will most likely see an approval of spot Bitcoin ETF’s next week, I do see some reasons why they would choose to delay.

1. Halt momentum: There are many bullish catalysts on the horizon this year. With the approval of a Spot Bitcoin ETF, the halving and a weakening dollar economy, they may not be ready to pour fuel on the fire.

2. To allow big players (BlackRock, US gov, others) to buy Bitcoin at a lower price. We’ve seen a nice run-up to where we are today in anticipation of this news. If we get a delay, we will most likely see a decent pullback.

3. Eliminate outsiders: We have the final deadline for Ark next week. I also see incentive for the SEC to keep Grayscale out of the Spot Bitcoin ETF race due to their massive Bitcoin position. This will give them an advantage and the SEC may look to counter this advantage. They may need more time to do so.

4. To allow time to get the anti-self-custody bill passed & clear up legal issues with Coinbase. They want to control Bitcoin and they would prefer to keep Bitcoin in one place. I think we’ll see a major effort from the gov to co-opt Coinbase over the coming years. If the Bitcoin stays there, it is easier to monitor/take/tax.

#bitcoin #etf