Now that the ETFs have been rejected, here’s how they might still have a chance

There came out a report today by WSJ saying that SEC had rejected the ETFs and the market reacted of course, with the price of Bitcoin going down to $29,500 from $31,000.

But to me it seems as if it's all panic, as the reason the SEC has given about their rejection is one which can be changed and refiled against by the respective companies.

According to the WSJ article:

“The SEC told the exchanges that it returned the filings because they didn’t name the spot bitcoin exchange with which they are expected to have a ‘surveillance-sharing agreement’ or provide enough information about the details of those surveillance arrangements.”

And they added "Asset managers can update the language and refile”

As far as we can understand, this can be fixed by refiling and changing that exchange to Coinbase in the case of Blackrock for example. And what SEC also required is them clarifying their" surveillance-agreement".

Market just acts with panic at every news.

Although I'll admit that there's also the possibility they might not accept them the second time around neither, so we'll see.

https://www.wsj.com/articles/sec-says-spot-bitcoin-etf-filings-are-inadequate-390336e8