Attorney John Deaton’s View on Spot Bitcoin ETF Approval Odds
John E. Deaton, the attorney representing XRP holders, shares the same sentiment as Mike Alfred regarding the high chances of spot Bitcoin ETF approval. Deaton believes that the constructive discussions between the SEC and Bitcoin ETF issuers, along with recent amendments to spot Bitcoin ETF filings, increase the likelihood of approval.
Expert Predictions on Spot Bitcoin ETF Approval
Mike Alfred predicts a 98.7% chance of spot Bitcoin ETF approval before January 10. However, there doesn’t seem to be much excitement on Wall Street, as January call options for many BTC miners are undervalued. Bloomberg analysts have maintained a 90% probability of approval for over two months. As the deadline approaches, experts suggest even higher odds of a spot Bitcoin ETF.
Trader and investor Bob Loukas confidently states that the level of engagement and changes in the ETF indicate a 99.9% chance of approval.
Spot Bitcoin ETF Approval Expected This Week
This week, there is anticipation for spot Bitcoin ETF approval as Ark 21Shares, BlackRock, and WisdomTree have updated their S-1 filings to accommodate cash creations, as requested by the SEC.
Bloomberg analyst James Seyffart and finance lawyer Scott Johnsson believe it is unlikely but not impossible. They note that historically, the SEC tends to issue orders close to the deadline and expect amendments to reflect a cash model. Seyffart also agrees with a potential approval between January 8-10.
Hot Take: Likelihood of Spot Bitcoin ETF Approval
The anticipation for spot Bitcoin ETF approval is growing as experts and insiders express confidence in its likelihood. With prominent figures like John Deaton and Mike Alfred predicting high odds of approval, and major ETF issuers amending their filings, the sentiment is positive. Despite the lack of excitement on Wall Street, traders like Bob Loukas are convinced that the approval is almost certain. As the deadline approaches, it remains to be seen if the SEC will grant the much-anticipated spot Bitcoin ETF approval.
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