Are Spot Market BTC ETFs Approved in Early 2024?
According to James Seyffart, an ETF Research Analyst at Bloomberg Intelligence, the U.S. SEC might give a green light to a series of applications for a spot market Bitcoin ETF in January 2024. Seyffart made these observations in a detailed thread on X, suggesting recent SEC actions indicate an impending wave of ETF approvals.
Investors Eager for ETF Launches
On September 12, financial firm Franklin Templeton filed for a spot Bitcoin ETF with the SEC. Other giants like BlackRock are also waiting on the SEC’s response. The approval of a spot Bitcoin ETF would allow retail investors to invest in Bitcoin through their brokerage accounts, similar to how they invest in stocks and bonds, providing them with a simple means to invest in the crypto.
Contrasting SEC Decisions
It appears that the SEC might approve several BTC ETF applications by the 10 January 2024 deadline, as evidenced by their early ruling on the Franklin Templeton BTC ETF bid. Yet, there could be complexities arising from the SEC’s separate approval processes for new derivative securities. Moreover, there’s a chance that the SEC may still reject these bids, Seyffart pointed out.
Hot Take
Investors could be given the green light to invest in BTC ETFs through brokerage accounts soon, but uncertainty remains over potential SEC delays and denials as well.
By
By
By
By
By