Approval of Spot Bitcoin ETF Unlikely in Early January: Fox Business Reporter
Fox Business reporter Eleanor Terrett has expressed doubts about the approval of a spot Bitcoin ETF in early January. According to Terrett, the Securities and Exchange Commission (SEC) still needs to review changes made to the S-1 filings for spot Bitcoin ETFs.
“While the SEC is surely unpredictable, it would surprise me if approvals were to happen tomorrow. From what I understand through conversations I’ve had with issuers, the SEC still has to review all the changes made to the S-1s filed on Thursday/Friday AND make comments.”
Eleanor Terrett, Fox Business reporter
Terrett believes that the SEC will notify issuers of a final Form S-1 filing date within the next 24 to 48 hours. This timeline is similar to the approval schedule for Ethereum futures ETFs last October.
Bitcoin ETF Approval Expected by Many Analysts
Despite the uncertainty, many analysts are still hopeful for the approval of spot Bitcoin ETFs in early January. Companies like Valkyrie, Fidelity Investments, ARK Invest, Grayscale, WisdomTree, and Invesco are also eagerly awaiting approval from the SEC. These Bitcoin ETF issuers have already progressed to crucial details in negotiations with the regulatory body.
Bitcoin Price Surges Ahead of Deadline
As the deadline for Bitcoin ETF applications approaches, BTC’s price has seen significant growth. It recently broke through the $45,000 level, reaching a 21-month high not seen since April 2022.
Hot Take: SEC Review Delays Cast Doubt on Spot Bitcoin ETF Approval in January
The approval of spot Bitcoin ETFs in early January is becoming increasingly uncertain due to delays in the Securities and Exchange Commission’s review process. Fox Business reporter Eleanor Terrett has expressed skepticism about approvals happening soon. While many analysts remain hopeful, the SEC still needs to review changes made to the S-1 filings for spot Bitcoin ETFs. The next 24 to 48 hours will be crucial as the SEC notifies issuers of a final Form S-1 filing date. In the meantime, Bitcoin’s price continues to surge, reaching a 21-month high ahead of the deadline for ETF applications.
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