Bloomberg Analysts Share Their New Predictions for Spot Bitcoin ETFs! When Will SEC Approval Come?

SEC last night Franklin Templeton and Hashdex postponed the decision date on companies’ spot Bitcoin ETF applications.

Bloomberg analysts weighing in on these ETF postponement decisions by the SEC, He argued that these postponements may have been made to approve all pending applications at once.

at this point Bloomberg analyst James Seyffart said: Stating that the SEC acted too early to postpone the decision date for Franklin’s spot Bitcoin ETF, he said that as a result, no other decision is expected from the SEC anyway.

Seyffart also took part in Franklin’s spotlight. Bitcoin He noted that it was the only company that did not file an S-1 update for its ETF application.

The analyst stated that subsequently, a postponement decision was made for Hashdex. He stated that these delays could be preparation for a mass approval wave in early January.

“Finally, this delay in the decision date for Hashdex confirms to me that there is likely a move to potentially grant approval for every spot Bitcoin ETF application by the January 10, 2024 decision deadline.”

I think Scott has it right https://t.co/4RQb1YOzVk

— Eric Balchunas (@EricBalchunas) November 28, 2023

Another Bloomberg analyst, Eric Balchunas, agrees with Seffart. Because Balchunas also said that Scott Johnson, who quoted Seyffart’s post, was right and agreed with his comment.

Johnson, quoting James Seyffart’s post “The SEC may have chosen to issue a delay early in order to approve everyone’s spot ETF applications at the same time and ensure that the ETF comment period ends before January 10.” said.

Balchunas also reacted to Franklin’s S-1 update months later, saying that he was in favor of launching all ETFs at the same time, but it seemed a bit unfair that Franklin was allowed to launch its ETF on the same day as the other providers despite submitting its S-1 form months later.

While I’m generally in favor in letting them launch at the same time, Franklin jumped in sooo late vs others, like 5mo after ARK filed and yet they may be able to launch the same day.. seems kinda unfair… but i suppose SEC can ‘t really draw any lines here

— Eric Balchunas (@EricBalchunas) November 28, 2023

*This is not investment advice.