All eyes on SEC's January decision on spot bitcoin ETFS
Is next 7 days really the #ETF approval day? đł as you can see in the screenshot!!
According to Poinline news, In ETF land, 2024 could kick off with a bang if, as expected, spot bitcoin ETFs win Securities and Exchange Commission approval in January.
Bloomberg Intelligence predicts a 90% chance the SEC will approve a spot bitcoin ETF by Jan. 10. That's the deadline for the commission to either approve or deny a proposed rule change to list and trade shares of the ARK 21Shares Bitcoin ETF, according to Bloomberg Intelligence ETF Research Analyst James Seyffart.
Why SEC has yet to approve a spot bitcoin ETF is âa mystery to me,' SEC's Peirce says
The application for a spot bitcoin ETF by Cathie Wood's ARK Investment Management and 21Shares is first in line among the recent wave of 19b-4 filings for spot bitcoin ETFs.
However, the SEC is likely to greenlight multiple applications at once, Seyffart said.
"We think they're going to issue 19b-4 approval for many if not all of the current applications that are in front of them," the analyst said, adding that the SEC "played a kingmaker role when they allowed BITO to launch by itself first, and I don't think they want to do that again.
Let's keep our fingers crossed and anticipate for this .
