Uncertainty Looms Over Approving Spot Bitcoin ETF in Early January, Suggests Fox Business Journalist

The Sentiment Surrounding a Spot Bitcoin ETF Approval in January

Fox Business reporter Eleanor Terrett believes that the sentiment surrounding the approval of a spot Bitcoin ETF in early January is low. However, many analysts still expect the approval to happen during that period.

SEC Reviewing Changes to S-1 Filings

The Securities and Exchange Commission (SEC) is currently reviewing changes to the S-1 filings for spot Bitcoin ETFs. Terrett mentioned that the SEC is expected to inform issuers of the final Form S-1 filing date after completing this review, which could happen within the next 24 to 48 hours.

Bitcoin ETF Issuers in Discussions with the SEC

Bitcoin ETF issuers are having discussions with the SEC, focusing on critical details. The deadline for deciding on numerous applications is set for January. As the deadline approaches, the price of BTC has been positively responding, reaching a 21-month high.

Spot Bitcoin ETF Approval Process

The approval process for spot Bitcoin ETFs did not unfold as quickly as expected after the SEC approved the first Bitcoin futures ETF in October 2021. Several money managers, including BlackRock and other prominent investment management firms, have submitted applications for spot Bitcoin ETFs. These applications share a common requirement of separating custody and trading functions. The timeline for potential approval remains speculative at this point.

Hot Take: Will a Spot Bitcoin ETF be Approved?

The sentiment surrounding the approval of a spot Bitcoin ETF in January seems uncertain. While some analysts expect it to happen during this period, others like Fox Business reporter Eleanor Terrett believe the sentiment is low. The SEC is currently reviewing changes to S-1 filings for spot Bitcoin ETFs, and issuers are in discussions with the regulatory body. The price of BTC has been responding positively as the deadline for approval approaches. However, the timeline for potential approval remains speculative. It will be interesting to see if a spot Bitcoin ETF receives approval in the near future.