Spot Bitcoin ETF Approval Chances Rise
Following the recent Grayscale lawsuit judgment against the SEC, analysts predict an increased chance of approval for the first spot Bitcoin ETF in the United States. Bloomberg analysts Eric Balchunas and James Seyffart have raised their odds of approval to 75% for this year and 95% by the end of 2024.
Grayscale Win Accelerates Bitcoin ETF Race
Financial institutions like Blackrock and Fidelity are now competing to obtain the first spot BTC ETF from the regulatory agency. The victory of Grayscale in the lawsuit has made the crypto community optimistic about the ETF approval.
Bitcoin Price Rally Expected Before Halving Event
The new developments in the ETF approval process may align with a significant Bitcoin price rally before the second quarter of 2024. Analysts believe that the SEC will struggle to justify further denials as it faces deadlines, potentially leading to the approval of more ETF applications.
US SEC Likely to Fall Short in Denying Spot ETF Applications
The SEC is expected to have difficulty justifying denials of spot ETF applications, especially after the decisive ruling in the Grayscale case. The court’s ruling leaves the SEC with very little room to maneuver and increases the chances of approval for future applications.
Hot Take: US Closer to Approving First Spot Bitcoin ETF
With the Grayscale lawsuit victory and the growing competition among financial institutions, the chances of the US approving its first spot Bitcoin ETF are higher than ever. This could have significant implications for the crypto market and potentially lead to a Bitcoin price rally before the halving event in 2024. The SEC will face pressure to justify further denials, making it increasingly likely for spot ETF applications to be approved.
By
By
By
By
By