While the cryptocurrency market maintains its upward momentum, all eyes are once again turned to a spot Bitcoin (BTC) ETF approval that may come from the SEC.
Bloomberg’s senior ETF analyst James Seyffart shared his new research on the spot Bitcoin exchange-traded fund process. James Seyffart made a statement on social media on November 8. in the statement spot Bitcoin ETFs January 10, 2024 probability of approval by 90% While stating that ETF approval is that you can come earlier also included.
Seyffart, more for a fair and collective approval SEC’s by 17 November at the latest He suggested that he could take action:
We believe there is still a 90% chance of spot Bitcoin ETF approvals by January 10th. But if approval comes sooner, we enter an atmosphere where there could be a wave of approvals for all available applicants. This is the first time Grayscale has been eligible for approval since the court victory was confirmed.
In total 12 different companies The spot Bitcoin ETF application made by “in normal conditions” 9-17 November It must be approved by . However, on legal grounds, the SEC has until January 10.
In line with the opinion of the Bloomberg analyst, many market experts also said that the SEC during comment period He believes that ETF approval would not be healthy and that this approval should be made these days when all applications appear equal.
In another recent statement, James Seyffart stated that there was a prominent spot Bitcoin ETF application and that the SEC could not reject this application.