To me, the SEC's heavy loss in court means an almost certain approval of ETF, no matter how much clown Gary doesn't like it. The SEC must be complete morons not to draw the following conclusions. In principle, they have several options.
1. Within the period of 45 days to appeal to the Supreme Court. There, the inevitable decision will be the same, which means more financial losses, so it is completely pointless.
2. They accept the court's decision, Grayscale files again, but the SEC refuses for another reason. There will be another case and the court will make the same decision again. SEC have already put forward all possible reasons for refusal and are unable to prove them.
3. The SEC revokes the futures approval and again gives a negative decision on Grayscale. There will follow a new case from the futures companies, which will inevitably prove to the court that there is no basis for this change in the SEC's decision. So again, SEC will be forced to approve both futures and spot ETF's.
4. The SEC vacates its order, Grayscale resubmits, and within a few months, Grayscale and everyone else gets approval. This is the only sensible solution for SEC.
I think either way we will know very soon the direction the SEC is looking to take on the issue of ETFs based on decisions in the coming days:
Friday Sept 1st: Bitwise
Saturday Sept 2nd: BlackRock, VanEck, Fidelity, Invesco and Wisdomtree
Monday Sept 4th: Valkyrie
SourceI'd say Saturday is the big one. Bitwise to get struck down like Greyscale, as they are crypto-based companies.
If any of the 2nd get approved there
could be 3 days of straight bullishness leading into the 4th.
I expect the decision to be announced for all of them on Friday after markets close, as usual. Normally, I would bet that there will be another delay. But there is a small possibility for the SEC to come to their senses and wave the white flag. Anyway, the good news is that insitutional money are coming after all. So, we have really the last chance to grab cheap coins before the big money arrive. I'm reconsidering my decision to buy a real estate with a morthage loan, and instead postpone it, and continue to DCA for the next couple of months at least. Seeing the price today it reminds me of the previous bear markets. Traders were happy to make stop losses or pennies at best, while one year later they would have made 15x by DCAing. So, with or without an ETF provoked pre halving bull run, the simple math proves that 100K won't be a challenge for long. Especially if proudhon reappears and makes a post that bitcoin price will never surpass 30K, proven by math and science
