{"id":83854,"date":"2023-09-01T09:44:40","date_gmt":"2023-09-01T06:44:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83854"},"modified":"2025-09-12T13:42:46","modified_gmt":"2025-09-12T10:42:46","slug":"bitcoin-slips-below-26000-as-sec-decision-on-bitcoin-etfs-weighs-on-markets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-slips-below-26000-as-sec-decision-on-bitcoin-etfs-weighs-on-markets\/","title":{"rendered":"Bitcoin slips below $26,000 as SEC decision on Bitcoin ETFs weighs on markets"},"content":{"rendered":"<p>On the evening of August 31, the price of the first cryptocurrency tested below $26,000. At one point the asset fell to $25,660 (on Binance).<\/p>\n<p>Over the last 24 hours, Bitcoin has fallen 4.6%, according to <a href=\"https:\/\/www.coingecko.com\/ru\">CoinGecko<\/a>. It is currently trading above $26,000.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/AHUEwGw1ZKeoLTvrLaBl_gKv2wF3kYikP98mLUVoavoOqT2aw_t_urMGHGJS3nyfpY1E_T9uMrYFS5BXff3I2FuqCnIQB5u_SFIMIpUilOF7y8lfWV2hD_pQ3qbDerZQ9i53IPcrxakTGRPqVBtmsoY\" alt=\"Bitcoin falls below $26,000 amid SEC decision on Bitcoin ETF\"\/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Following the leader, all assets in the top 10 by market capitalisation moved into the red. Ethereum fell 3.4%, with Solana the biggest laggard at 4.3%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/i1g3DZeZPRQjX6yLVyHFt71cVH7aAqBjAnGO1M6qn3KeHhHJLar_FqZRU6p9p24fMgXEEF1mTpi6OcrnmJvSTe53Cr5CrBLdk1oD-fPc5VdC5yAXrY7EpSR6i7im5nLOHv4T8yGC1Kk6dDt6kLAxlIw\" alt=\"Bitcoin falls below $26,000 amid SEC decision on Bitcoin ETF\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>Bitcoin closed August down 11%.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/32923\" data-width=\"100%\"><\/script><\/p>\n<p>The market&#8217;s negative reaction stems from actions by the U.S. Securities and Exchange Commission (SEC). On August 31 the agency postponed a decision on applications to launch spot <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">Bitcoin ETFs<\/a> from <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nasdaq\/2023\/34-98267.pdf\">BlackRock<\/a>, Fidelity, <a href=\"http:\/\/sec.gov\/files\/rules\/sro\/nysearca\/2023\/34-98268.pdf\">Bitwise<\/a>, <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2023\/34-98265.pdf\">VanEck<\/a>, <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2023\/34-98264.pdf\">WisdomTree<\/a>, Invesco and <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nasdaq\/2023\/34-98262.pdf\">Valkyrie<\/a> at least until mid-October.<\/p>\n<p>Overall, the regulator has 240 days from the start of consideration of the applications. Earlier, Bloomberg analysts James Seyffart and Eric Balchunas <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-analysts-raise-odds-of-a-spot-bitcoin-etf-this-year-to-75\">assessed<\/a> the probability of launching a spot Bitcoin ETF by the end of 2023 at 75%.<\/p>\n<p>Analysts raised odds after <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\">Grayscale&#8217;s legal victory<\/a> in its case against the SEC. However they did not rule out delays.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/THJKAiisLjF_eWkk6tHdcX6OQImd_ZwL8Nw_r0NVUjpdW7R1kJ0jmIMl3wt7xLm8NK9clqoOePbDqZJ0Lv1WztTlHICJVPCbrlSl8K5JiRM4M3pPLDKQyTGBj76fQwoBTy6PxMIlxl79_pm8_9RSjHs\" alt=\"Bitcoin dips below $26,000 amid SEC decision on Bitcoin ETF\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1697328538670473484\">X<\/a>.<\/figcaption><\/figure>\n<p>On June 15, BlackRock <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">sent<\/a> a filing with the SEC for a digital-gold-based investment product. Following the tech giant, similar proposals arrived from<a href=\"https:\/\/u1f987.com\/en\/news\/valkyrie-seeks-to-register-a-spot-bitcoin-etf\"> Valkyrie<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-investments-files-for-spot-bitcoin-etf\">Fidelity Investments<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/wisdomtree-and-invesco-file-applications-to-launch-bitcoin-etfs\">WisdomTree and Invesco<\/a>. Yet the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/wsj-reports-sec-reaction-to-blackrock-and-fidelity-spot-bitcoin-etf-filings\">sent back<\/a> all filings.<\/p>\n<p>Subsequently the companies promptly submitted to the agency <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-and-others-amend-filings-for-bitcoin-etf-after-sec-reaction\">revised proposals<\/a>. On July 14 the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-takes-up-review-of-spot-bitcoin-etf-applications\">took the applications under review<\/a> from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree.<\/p>\n<p>So far the SEC has not granted any approvals for launching spot Bitcoin ETFs. The Commission did make an exception for futures-based products on the first cryptocurrency from <a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">ProShares<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">Valkyrie Investments<\/a>.<\/p>\n<p>As noted, former SEC attorney John Reed Stark <a href=\"https:\/\/u1f987.com\/en\/news\/ex-sec-lawyer-rules-out-approval-of-spot-bitcoin-etf\">ruled out approval<\/a> of a spot exchange-traded fund based on digital gold. However Bernstein <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-sees-high-odds-of-spot-bitcoin-etf-approval\">analysts<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/jay-clayton-steps-down-as-head-of-the-u-s-sec\">former chair<\/a> SEC <a href=\"https:\/\/u1f987.com\/en\/news\/ex-sec-chief-sees-chances-for-bitcoin-etf-approval\">Jay Clayton<\/a> assessed the odds of a new wave of applicants as high.<\/p>\n<p>Marathon Digital CEO Fred Thiel is <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-chief-sees-bitcoin-etf-approval-as-highly-likely\">optimistic<\/a>, and Fundstrat co-founder Tom Lee <a href=\"https:\/\/u1f987.com\/en\/news\/tom-lee-bitcoin-price-could-breach-150000-after-etf-approval\">predicted<\/a> a substantial rise for Bitcoin if the applications are approved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the evening of August 31, the price of the first cryptocurrency tested below $26,000.<\/p>\n","protected":false},"author":1,"featured_media":83855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,128,1211],"class_list":["post-83854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"51","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83854"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83854\/revisions"}],"predecessor-version":[{"id":83856,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83854\/revisions\/83856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83855"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}