Bloomberg Analyst Hints at Possible Bitcoin ETF Launch on January 11

US SEC Nears Approval of Bitcoin ETFs

The US Securities and Exchange Commission (SEC) is approaching the final stage of approving spot Bitcoin ETFs. However, the launch date for these proposed ETFs is still unknown. It remains to be seen whether the SEC will notify all 11 applicants at once or in batches when announcing the approval.

Possible January 11 Launch Date

Sources have indicated that the SEC officials are preparing for a Bitcoin ETF launch on January 11, 2024. Earlier reports suggested that there would be a gap between the announcement and the start of trading for ETFs. According to Eric Balchunas, an analyst at Bloomberg Intelligence, the paperwork related to the SEC’s requirements is essentially complete.

“Latest I am hearing (from multiple sources) that final S-1s are due 8am on Monday as SEC is trying to line everyone up for Jan 11th launch.”

Final Approval Expected by January 9 or 10

Executives and representatives from investment management firms believe that discussions between SEC officials and stock exchanges are progressing towards a spot ETF approval in early January. The applicants anticipate receiving final approval of their S-1 filings by late Tuesday or Wednesday. Minor changes are expected from three firms before the final deadline on Monday.

Hot Take: Bitcoin ETF Approval Imminent

The US SEC’s nearing approval of spot Bitcoin ETFs indicates a significant step forward for cryptocurrency adoption. If these ETFs are launched, they could attract more institutional investors to enter the crypto market, potentially driving up Bitcoin’s price. Additionally, it would provide a regulated investment vehicle for retail investors to gain exposure to Bitcoin. The anticipation of a January 11 launch date has generated excitement and speculation among crypto enthusiasts. However, it’s important to remember that regulatory processes can be unpredictable, and delays or rejections are still possible. Nonetheless, the potential approval of Bitcoin ETFs marks a notable development in the mainstream acceptance of cryptocurrencies.