Bloomberg Analyst: “SEC Backed into a Corner, Will Approve Spot Bitcoin ETF in January! But the Situation is Different with Ethereum!”

As it is known, the spotlight awaiting from the SEC Bitcoin A decision on the ETF is expected and the likelihood of this decision being approved is increasing.

at this point James Seyffart and Eric Balchunas, Bloomberg Intelligence ETF research analysts While they became famous for their spot Bitcoin ETF analyzes and predictions this year, new statements came from Seyffart.

Speaking to The Block, James Seyffart said: He explained his reasons by stating that he stands by the view that Bitcoin ETF approvals are likely to come in January.

Claiming that the SEC is backed into a corner regarding spot Bitcoin ETFs, the Bloomberg analyst said that the possible date for a potential spot Bitcoin ETF approval is between January 8 and January 10.

Noting that he has been saying since October that ETFs have a 90% chance of being approved by January 10, Seyffart argued that the SEC would ultimately approve these ETFs, but that it strategically delayed this decision.

“The SEC will eventually approve a spot Bitcoin ETF. However, he is delaying this decision strategically and knowingly.

The SEC is considering approving several applications, or at least most of them, at the same time to avoid giving an advantage to a single company by approving them one by one.

Because the SEC does not want to pick a favorite to win this race, whether it is to obtain the most assets or the most liquidity.

Therefore, if the SEC is going to approve ETFs, it will probably approve them all at once, because again it does not want to play the decisive role in this situation.

For this reason, I think the SEC will give mass approval to ETFs in January.”

When a Bloomberg analyst was asked how he felt so confident that ETFs would be approved all together in January, he said: “We’ve heard rumors from different people, people who were involved in this process, people who knew other people who were involved in this process. We have very reliable sources, and we have some sources that we don’t know how reliable they might be. “But for over a year we’ve been hearing similar things from a bunch of different people, from different angles.” said.

Also regarding approval Grayscale‘s victory over the SEC also serves as an important catalyst.

Finally the spotlight Ethereum Referring to the approval of ETFs, the analyst said a spot ETH The ETF possibility is a completely different situation, he said.

Stating that the models of BTC and ETH are different at this point, Seyffart stated that if the SEC aims to stop the ETH ETFs process, it may delay the decision-making process or claim that Ethereum is a security.

Seyffart stated that it should not be forgotten that this possibility exists. Ethereum He added that he thinks his ETFs will “most likely be approved” by the end of May.

*This is not investment advice.