Bloomberg Analyst Confident On Bitcoin ETF Approval
Eric Balchunas, a Bloomberg analyst, has expressed his unwavering confidence in the approval of a Bitcoin exchange-traded fund (ETF) in just over a month. He stated that he is watching for more amended or final filings and clarity on in-kind vs cash creates. Balchunas clarified that there has been no change in his odds and he still maintains a 90% chance of approval by January 10. He believes that there is unnecessary distraction surrounding less crucial aspects of the ongoing Bitcoin ETF debate.
Predictions Have Been A Talking Point
Balchunas warns against stressing over exact dates and comments in the timeline of the Bitcoin ETF approval process. He emphasizes that the SEC and issuers are working hard behind the scenes to prepare the ETFs for this cycle. Balchunas’ forecasts on the probability of approval have gained attention, with an increase in the odds of approval in 2023 by 75%. However, current expectations lean towards approval at the beginning of 2024.
Hot Take: Confidence Remains High for Bitcoin ETF Approval
Eric Balchunas, a Bloomberg analyst, continues to express confidence in the approval of a Bitcoin exchange-traded fund (ETF). Despite ongoing debates and distractions, Balchunas maintains a 90% chance of approval by January 10. He urges caution against focusing too much on specific dates and comments during this process. With the SEC and issuers working diligently behind the scenes, preparations are being made to ensure readiness for this cycle. While there may be differing opinions on timelines, Balchunas’ unwavering confidence suggests that an ETF approval is on the horizon.
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