James Seyffart on the Approval Timeline of Bitcoin Spot ETF
Have you been wondering when Bitcoin Spot ETFs will start trading on the open market if they get approved? Bloomberg analyst James Seyffart has weighed in on this topic. According to Seyffart, the approval timeline for the BTC spot ETF is crucial, and both the 19b-4 and S-1 filings play a significant role in it.
Seyffart believes that getting clearance for the 19b-4 set of ETFs will not be too difficult. However, he points out that the challenging part is determining when the ETF can begin trading after approval. He estimates that it might take one or two days or even weeks for trading to go live after approval.
On the other hand, Seyffart expresses uncertainty about the S-1 filings and their preparedness for approval by the United States Securities and Exchange Commission (SEC). If both the 19b-4s and S-1s are approved, there will be little time between approval and launch.
Despite these uncertainties, Seyffart believes that companies like Hashdex and BlackRock meeting with the SEC this week indicate progress towards ironing out the specifics.
$100 Billion Inflow Speculation Following Approval
If a Spot Bitcoin ETF gets approved, there is speculation about how much money could flow into it. Mathematician Fred Krueger has projected a potential $100 billion inflow into Bitcoin in such a scenario.
However, Seyffart cautions investors against setting their expectations too high based on this projection. He calls it “extreme” to forecast such a significant inflow, especially considering that gold has been available in the US since 2004 and its worth is currently $95 billion.
Hot Take: James Seyffart Provides Insights on Bitcoin Spot ETF Approval Timeline
James Seyffart, a Bloomberg analyst, has shared his insights on the approval timeline of Bitcoin Spot ETFs. While he believes that getting clearance for the 19b-4 set of ETFs may not be too difficult, determining when trading can begin after approval remains uncertain. Additionally, Seyffart expresses uncertainty about the preparedness of S-1 filings for approval by the SEC. Despite these uncertainties, Seyffart is optimistic that progress is being made in ironing out the specifics. Furthermore, he cautions investors against setting high expectations for potential inflows into Bitcoin following approval, citing the “extreme” nature of projecting such significant numbers.
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