James Seyffart asserts Bitcoin Spot ETF has a 95% chance it will be approved on January 10.
by Insha Zia. Fact checked by: Ciaran Lawler, Editor: Stefan Trapp
Published: January 8, 2024 │ 2:45 AM GMT
Created by Gabor Kovacs from DailyCoin
James Seyffart has increased the odds of a Bitcoin ETF approval to 95%.
The Bloomberg analyst previously predicted a 90% chance.
Seyffart shares what could happen if the SEC delays its decision again.
Anticipation for a Bitcoin ETF Approval has reached unprecedented levels, especially after the SEC started accepting 19b-4 forms from exchanges and issuers. With the ETFs seemingly on the brink of approval, experts are already raising their glasses, calling it done, asserting there’s very little chance the SEC rejects applications in the following business week.
95% Chance Bitcoin ETF is Approved
After key players in the race for the ETF successfully navigated one of the final steps in the SEC approval process, the atmosphere has been buzzing with excitement in anticipation of January 10, when the commission potentially announces its decision.
While some experts warn about a ‘sell-the-news’ event, pointing to the recent reactions in the altcoin market with leading players like Cardano, Avalanche, and Ethereum experiencing drops of up to 12%, Bloomberg analyst James Seyffart maintains an optimistic outlook.
— James Seyffart (@JSeyff) January 6, 2024
Having initially predicted a 90% chance of the Bitcoin Spot ETF approval by January, Seyffart now asserts the odds of approval have increased to 95%, indicating a growing confidence that the proposals are unlikely to face further delays this time around.
However, if the SEC decided to postpone its decision again, James Seyffart painted a picture of what could happen.
