Eric Balchunas, an ETF analyst at Bloomberg Intelligence, has outlined a potential sequence of events to watch for regarding Bitcoin ETF approvals in the United States.
Possible Bitcoin ETF Approval Sequence
Balchunas shared his thoughts on the potential timeline for the launch of a Bitcoin ETF in a recent thread on the X platform. He acknowledged that there are unknown factors but offered his best guess. According to him, it’s likely that the 19b-4 filings necessary for establishing Bitcoin ETFs will be approved in the near future and are currently under review by the U.S. Securities and Exchange Commission (SEC).
Once the 19b-4s are approved, there might be a time gap while the SEC prepares for the next steps. After this, the SEC is expected to approve S-1 filings, bringing the launch of a Bitcoin ETF closer. Balchunas even hinted that the launch could be just a matter of days once the S-1 filings are approved.
James Seyffart, another Bloomberg ETF analyst, suggested that there may not be a need for amendments to the 19b-4 filings, citing the Grayscale case as a reference.
Speculations Regarding Ethereum ETF
Looking beyond the Bitcoin ETF, there was also discussion about the potential approval of an Ethereum (ETH) spot ETF. When asked about this possibility, Balchunas noted that it’s hard to imagine it would take too long after a Bitcoin ETF’s approval.
Seyffart echoed this sentiment, emphasizing the uncertainty surrounding the exact timeline for an Ethereum ETF and highlighting the need for patience and close observation.
Hot Take
Potential Approval of Bitcoin and Ethereum ETFs
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