The US Securities and Exchange Commission (SEC) court cryptocurrency As the deadline approaches for the company to respond to its decision in favor of Grayscale, Bloomberg analysts James Seyffart and Eric Balchunas share their views on the possible consequences.
James Seyffart believes the SEC is unlikely to appeal. Even if an appeal were made, Seyffart is confident the SEC would not succeed. He predicts that the most likely outcome will be a clearer understanding of the next steps in this process.
Eric Balchunas agrees with Seyffart and says an objection or rejection from the SEC is unlikely. Balchunas sees the SEC’s active engagement with existing ETF filings as a significant change from their usual approach. According to Balchunas, this level of interaction has never been seen before.
Balchunas continues to maintain a positive outlook, keeping the probability of approval of a Bitcoin spot ETF by the end of the year at 75%. He thinks that this possibility will increase only if the decision is extended until mid-January.
In a statement he made 10 days ago, Balchunas talked about rumors that the SEC had reached out to Bitcoin Spot ETF applicants and described this as an unprecedented move.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!