“Top Bloomberg ETF Analysts Predict 90% Chance of Bitcoin ETF Approval by January 2024“
According to recent analysis by Bloomberg ETF analysts, there is a high likelihood of the United States SEC approving spot Bitcoin ETF applications by January 10, with a possibility of approval even earlier. The analysts, James Seyffart and Eric Balchunas, see the potential for a significant influx of approvals from the SEC at the same time, based on their recent report titled “Bitcoin ETFs’ Approval Opportunity.”
Potential Brief Approval Window
The report suggests that there could be a brief approval window opening on November 9, during which the SEC might approve all 12 Bitcoin ETF applications currently under review, including Grayscale’s GBTC. This window is expected to stay open for at least eight days, closing by November 17.
Long-Term Strategy by SEC
Seyffart also noted the SEC’s decision to postpone its decision on Bitcoin ETF applications in September. He believes that this upcoming approval window may be the first opportunity for the agency to allow all 12 filers to launch their Bitcoin ETFs.
Optimistic Outlook for Future Approvals
Balchunas is optimistic about the future approval of 19b-4 filings from BTC ETF applicants, which are currently under review by the SEC. Approval of these filings is crucial for establishing Bitcoin ETFs and could lead to positive decisions on other essential key documents like S-1 filings.
Hot Take: Analysts Predict Imminent Bitcoin ETF Approval
The prediction of a 90% chance of Bitcoin ETF approval by January 2024 has sparked optimism among crypto enthusiasts and investors. If this prediction holds true, it could have significant implications for the mainstream adoption of cryptocurrency and blockchain technology. Keep an eye on developments in this space as they unfold.
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