Analysts Eye Potential Window for Spot Bitcoin ETF Approval
Analysts are now predicting a potential window for the approval of Spot Bitcoin exchange-traded funds (ETFs) between January 5 and 10, 2024. The previous deadline set by analysts for November 17 passed without any action from the Securities and Exchange Commission (SEC).
Deadline for Hashdex and Franklin Templeton ETF Around Jan 5 – 8
According to James Seyffart, an ETF specialist from Bloomberg Intelligence, the deadline for Hashdex and Franklin Templeton ETFs is expected to be around January 5-8. This aligns with the broader window of January 5-10, where approval for all twelve spot BTC ETF filings could potentially happen.
Seyffart and colleague Eric Balchunas maintain their prediction of a 90% likelihood of approval by January 10.
Financial Advisors Waiting to Provide BTC Access to Clients
Financial advisors are eagerly waiting for Spot Bitcoin ETF approval so they can provide access to BTC for their clients. Ric Edelman, founder of Edelman Financial Services, predicts a surge in interest among advisors once the ETFs are approved. Currently, only 12% of advisors recommend Bitcoin, while 47% own the asset.
Edelman emphasizes the importance of Bitcoin ownership among advisors for credibility. Many advisors are eagerly awaiting the availability of spot BTC ETFs so they can recommend this innovative investment product to their clients.
Hot Take: Analysts Set New Potential Window for Spot Bitcoin ETF Approval
Analysts are now looking at a potential timeframe between January 5 and 10, 2024, for the approval of Spot Bitcoin exchange-traded funds (ETFs). The previous deadline set for November 17 has passed without any action from the Securities and Exchange Commission (SEC). James Seyffart, an ETF specialist from Bloomberg Intelligence, predicts that the deadline for Hashdex and Franklin Templeton ETFs will be around January 5-8. This aligns with the broader window of January 5-10, where approval for all twelve spot BTC ETF filings could potentially happen. Financial advisors are eagerly awaiting the approval of Spot Bitcoin ETFs so they can provide access to BTC for their clients. Ric Edelman, founder of Edelman Financial Services, predicts a surge in interest among advisors once the ETFs are approved.
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