The SEC and BlackRock Meetings
The SEC confirmed that they met BlackRock and Nasdaq Stock Market employees, signaling potential progress in the approval of the first-ever spot Bitcoin ETF in the US.
Financial Giants Awaits SEC’s Judgment
JPMorgan and other financial giants are eagerly awaiting the SEC’s judgment on their applications for a Bitcoin ETF. The final verdict is predicted to come by early 2024, as the SEC takes its time to carefully examine each proposal.
Blackrock’s Confidence in Bitcoin ETF Approval
Blackrock has held a third meeting with the US Securities and Exchange Commission, potentially signifying the final steps before the approval of the first-ever spot Bitcoin ETF in the US.
Industry Experts’ Predictions
Michael Saylor, founder of MicroStrategy, has expressed confidence in a January approval, predicting a demand shock for Bitcoin. Mike Alfred, an entrepreneur, has predicted a 98.7% chance of Bitcoin ETF approval before January 10.
Implications of Approval on Crypto Market
If approved, Blackrock’s iShares Bitcoin Trust could have significant implications for the crypto market. A sudden influx of institutional capital could lead to increased volatility and price swings in the short term as investors seek to capitalize on potential gains.
Hot Take: The Outlook on Bitcoin ETF Approval
Spot Bitcoin ETF approval is a hot topic in the crypto industry, with a huge number of speculations and investors hopeful that approval is a real possibility before January 10.
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