Sky Bridge CEO Anthony Scaramucci recently said in sharing Bitcoin (BTC) cash ETF could be approved next week, he claimed. Scaramucci stated that it was a holiday week and people were not paying attention, explaining why it could be ‘next week’. Therefore, ETF approval news may be buried in celebrations. “Classic news garbage,” says Scaramucci. The market does not expect this. “Be prepared.”
Just a theory: and don’t be surprised if it happens, but it feels like the bitcoin cash ETF could be approved next week. It’s a holiday week and it’s also a way to bury the news when people aren’t paying attention. Classic news dump. The market isn’t expecting it. Be ready.
NEWS CONTINUES BELOW— Anthony Scaramucci (@Scaramucci) December 22, 2023
The cryptocurrency community, especially US investors, has been waiting for Bitcoin (ETF) news for a long time. It looks like this request will yield positive results very soon. Anthony Scaramucci had previously predicted an approval date for the spot BTC ETF in early January. The January 10, 2024 deadline looks likely, he said in a podcast. However, the Sky Bridge founder may have changed his stance and is now predicting an earlier date.
Many spot BTC ETF applicants want to increase their chances of approval by opting for a cash-only approach rather than the in-kind method. Firms will raise cash and buy BTC to create a stake rather than purchasing the asset first.
Could the SEC Approve a Spot Bitcoin ETF in December?
One or more spot Bitcoin (BTC) ETFs could be approved by January 10, 2024, according to an analysis shared by Bloomberg. The US SEC (Securities and Exchange Commission) has postponed every deadline for its decision in 2023. Analysts expect the financial watchdog to come out with an approval early next year.
However, Scaramucci may have a point. The SEC may announce its decision while investors and traders are busy celebrating the holidays, thus keeping the development quiet.
However, there is a possibility that the SEC will postpone the spot Bitcoin (BTC) ETF decision once again due to technical reasons. The US SEC made a negative decision in the case it filed against Ripple. The agency may feel that it is not yet equipped to handle the crypto market.