Bloomberg Analyst Predicts Spot Bitcoin ETF Approval
Bloomberg’s senior ETF Analyst Eric Balchunas has provided an update on the anticipated approval of a spot Bitcoin ETF. He maintains that there is a 90% chance of the Bitcoin ETF being accepted by the US SEC. Balchunas confidently predicts that the spot Bitcoin ETF license will be granted before January 10, 2024. He also mentions the possibility of more filings for Bitcoin ETFs before the approval date.
Collaboration for Faster ETF Readiness
Contrary to popular belief, the SEC and issuers are actively working together behind the scenes to accelerate the readiness of ETFs within the current cycle. While specific dates and deadlines are still being discussed, this collaborative effort is an important step in the ongoing argument over ETF approval.
Optimistic Predictions for Spot ETF Approval
Joe Carlasare, known for his reserved approach to spot ETF discussions, has made a significant prediction. He expresses confidence in the approval of several spot ETFs and suggests potential approval dates of Friday, January 5th, or Monday, January 8th. Ripple Lawyer John E Deaton acknowledges Carlasare’s stance and shares his perspective as a seasoned investor, foreseeing a short-term correction post-approval but remaining optimistic about a swift recovery.
Hot Take: Positive Outlook for Spot Bitcoin ETF Approval
The anticipated approval of a spot Bitcoin ETF continues to generate excitement among investors and analysts. With Bloomberg’s Eric Balchunas predicting a high chance of approval by January 10, 2024, and Joe Carlasare offering potential approval dates even earlier in January, there is growing optimism surrounding the future of spot ETFs. The collaboration between the SEC and issuers further reinforces this positive outlook, as they work together to expedite the readiness of ETFs. Despite expectations of a short-term market correction post-approval, investors like John E Deaton remain hopeful for a quick recovery. Overall, the outlook for spot Bitcoin ETF approval appears promising.
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