Paul Atkins posted a tweet saying this is the "trillion-level" institutional gateway.
After hearing it, Bitcoin went from $84,600 to $84,700—unchanged. What’s lively is the talk; the chart doesn’t react.
What this SEC proposal (IA-7023) does is very specific: it opens up more compliant custody options for regulated funds and investment advisers, allows limited self-custody, recognizes state-registered trust companies as custodians, and adds a 60-day public comment period. This is a regulatory process step-by-step.
The story making the rounds in the market is that an "institutional flood" is coming. More precisely: funds have been given "the option to buy," not that they have already been given "the money that can be used to buy"—approvals by investment committees, liquidity, valuation, and final rules taking effect are all still required.
This rule is not as broad as people have been saying. The SEC is mainly focused on crypto assets that themselves fall under the category of funds, securities, or similar—it's not loosening the leash for the whole tail of low-quality altcoins. Self-custody is not a get-out-of-jail-free card either; obligations for cybersecurity, custody, and disclosure still apply.
"Trillion-level institutions entering" sounds frightening, but put it next to the spot market chart that remains still—it doesn’t hold up. On my side, I’m leaning toward a range-bound outlook; I won’t change it without real evidence of new capital. If I do change my mind, I’ll wait until a major fund publicly announces actual allocations—rather than celebrate with another tweet.
$BTC #SEC #Regulation
After hearing it, Bitcoin went from $84,600 to $84,700—unchanged. What’s lively is the talk; the chart doesn’t react.
What this SEC proposal (IA-7023) does is very specific: it opens up more compliant custody options for regulated funds and investment advisers, allows limited self-custody, recognizes state-registered trust companies as custodians, and adds a 60-day public comment period. This is a regulatory process step-by-step.
The story making the rounds in the market is that an "institutional flood" is coming. More precisely: funds have been given "the option to buy," not that they have already been given "the money that can be used to buy"—approvals by investment committees, liquidity, valuation, and final rules taking effect are all still required.
This rule is not as broad as people have been saying. The SEC is mainly focused on crypto assets that themselves fall under the category of funds, securities, or similar—it's not loosening the leash for the whole tail of low-quality altcoins. Self-custody is not a get-out-of-jail-free card either; obligations for cybersecurity, custody, and disclosure still apply.
"Trillion-level institutions entering" sounds frightening, but put it next to the spot market chart that remains still—it doesn’t hold up. On my side, I’m leaning toward a range-bound outlook; I won’t change it without real evidence of new capital. If I do change my mind, I’ll wait until a major fund publicly announces actual allocations—rather than celebrate with another tweet.
$BTC #SEC #Regulation