US SEC’s Form S-1 Review
The US Securities and Exchange Commission (SEC) has yet to review the changes made to the form S-1s filed before the December 29, 2023 deadline. Several major players in the industry, including BlackRock, Invesco, Valkyrie, VanEck, Wisdomtree, Fidelity, and ARK 21Shares, are competing for the spot Bitcoin ETF. The review process for the form S-1s is expected to continue until early next week, possibly January 8, 2024. This timeline aligns with the SEC’s previous approval process for ETH futures in October 2023. It is anticipated that the SEC will provide comments on the form S-1s and approve the Bitcoin ETF on January 9 or 10, 2024.
Early Approval Ruled Out?
Based on current information, it is unlikely that the Bitcoin ETF will be approved before January 6, 2024. However, there has been a positive development in the BTC price as it experienced a nearly 5% increase within a span of 24 hours at the start of the new year.
Hot Take: Expectations for Bitcoin Price Surge Ahead of ETF Approval
The anticipation surrounding the potential approval of the first spot Bitcoin ETF in the United States has created excitement among crypto enthusiasts. With a possible approval date of January 9 or 10, 2024, it is expected that Bitcoin’s price will experience further upward momentum in the lead up to this deadline. Investors are closely watching this development as an approved Bitcoin ETF could potentially attract more institutional investors and drive increased adoption of cryptocurrencies. The market will be eagerly waiting to see how Bitcoin performs in the coming days, with all eyes on the SEC’s decision.
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