Bitcoin ETF Approval Dates Predicted
Analyst James Seyffart estimated that the SEC could potentially approve all twelve spot Bitcoin ETF filings between January 5 and 10, 2024. This aligns with a prediction from Seyffart and colleague Eric Balchunas who have targeted January 10 as a potential approval date, ruling out any possibility of approval in December.
Lawyer Scott Johnsson also expressed agreement that the SEC filings indicate a likelihood of the regulator approving the funds by around January 10. In a tweet, he stated, “Really the only way it makes sense. Pretty sure we can lock this one up.”
Financial Advisors Anticipate Bitcoin ETF
Financial advisors are eager for the approval of a spot Bitcoin ETF, according to Edelman Financial Services founder Ric Edelman. He noted that advisors own Bitcoin but are hesitant to offer it to clients due to the absence of an ETF. Edelman claimed that advisers’ Bitcoin ownership might increase their credibility and client connection, emphasizing the necessity to balance personal asset ownership and professional recommendations.
Market Response to Bitcoin ETF Expectations
Bitcoin surged to a new 2023 high of $37,980 in response to news confirming a 2.4% increase in the last 24 hours, triggered by expectations of potential approval for a spot Bitcoin ETF by the SEC. The recent bullish trend in the market was triggered by expectations of potential approval for a spot Bitcoin ETF by the SEC.
The recent bullish trend in the market was triggered by expectations of potential approval for a spot Bitcoin ETF by the SEC, and the SEC requested public opinions on Bitcoin’s market manipulation risk, the proposed funds, and expected ETF exchanges, as well as other issues. This type of ETF directly invests in Bitcoin, influencing its limited supply.
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