From Nasdaq:

Dennis M. Kelleher, CEO of Better Markets, has expressed concerns about the approval of a Bitcoin exchange-traded fund (ETF) and called on the SEC to reconsider its approach in a letter to the regulatory body. Kelleher warned that such an approval contradicts SEC’s core principles and could expose investors to serious risks, including potential fraud.

Bloomberg ETF analyst James Seyffart criticized Kelleher’s efforts to stop Bitcoin ETF approval, labeling it a “criminal move.”

The SEC is expected to make a decision on the Bitcoin ETF by Jan. 10 amidst submissions of 19b-4 amendment forms by 11 spot Bitcoin ETF applicants.

A recent Bitwise survey revealed that only 39% of financial advisors were confident of the SEC approving the spot Bitcoin ETF this year. Meanwhile, economist Peter Schiff has issued a warning that those waiting for a Bitcoin ETF approval rally might be disappointed. He suggested a “buy the rumor, sell the rumor of the news” strategy.

The SEC has held meetings with several firms, including BlackRock Inc. and Grayscale Investments, to discuss proposed Bitcoin ETFs. The deadline for final amendments was set for Dec. 29, 2023.

At the time of writing, BTC was trading at $43,702.1338, up 0.06% in the last 24 hours, according to Benzinga Pro.



Read more: Analyst Slams Better Markets CEO, Who Said Bitcoin ETF Approval Would Be A ‘Historic Mistake’: ‘An Absolutely Criminal Move.’