Controversial social media influencer Andrew Tate is awaiting the decision of the Securities and Exchange Commission (SEC) regarding the approval of a Bitcoin BTC/USD exchange-traded fund (ETF).
What Happened: In a tweet on Sunday, Tate mentioned his estimation of the SEC’s approval of the BTC ETF, along with other topics such as a Matrix attack, court proceedings, and the maintenance of his extensive assets, including 22 properties and 50 cars.
Currently, several entities are vying for a spot in the Bitcoin ETF space, including Grayscale Bitcoin Trust, Ark/21 Shares Bitcoin Trust, Bitwise Bitcoin ETF Trust, BlackRock Bitcoin ETF Trust, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Valkyrie Bitcoin Fund, Invesco Galaxy Bitcoin ETF, and Fidelity Wise Origin Bitcoin Trust.
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Why It Matters: The SEC, however, has once again delayed its decision on approving the nation’s first Bitcoin-focused ETF until October. Last month, the SEC commenced evaluations on submissions from both cryptocurrency-focused and traditional financial entities. Advocates of a Bitcoin ETF believe that it would simplify retail participation in the Bitcoin market, eliminating the need for individual wallets or direct cryptocurrency purchases.
In a separate legal matter, Romanian prosecutors in June 2023, requested the seizure of 21 Bitcoins worth approximately $560,000 from Tate, who is currently facing charges of rape and human trafficking. The assets subject to seizure go beyond digital assets, including 15 properties, 15 luxury vehicles, and 14 watches. The wealth amassed by the accused has played a substantial role in the trial, as authorities view him and his associates as potential flight risks due to their financial status.
The indictment alleges that Andrew Tate and his associates utilized the “loverboy method” to recruit women into sex work.
Photo: Wikimedia Commons
Price Action: At the time of writing, Bitcoin BTC/USD was trading at $25,932.55, up 0.20% in the last 24 hours, according to Benzinga Pro.
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