Bitcoin ETF 90% Shot at Approval by SEC in January 2024
Bloomberg analysts Eric Balchunas and James Seyffart predict that a spot Bitcoin exchange-traded fund (ETF) has a 90% chance of approval by January 2024. In a note sent yesterday, Balchunas and Seyffart explain that there is an ongoing, constructive discussion between the SEC, Ark, and 21Shares. The latter two have pending applications for spot bitcoin ETFs. JUST IN: Spot #Bitcoin ETFs now have a 90% chance of being approved, according to Bloomberg analysts. — Watcher.Guru (@WatcherGuru) October 13, 2023 The communication between Ark and the SEC is promising. It’s the first reported conversation between the US regulator and an asset manager regarding Bitcoin ETF. The Bloomberg analysts say that five pages of text hold new changes and dialogue in a back-and-forth between the SEC and Ark. According to the analysts, this practice is standard practice for new launches, but “a first” for Spot Bitcoin. I've gotten a lot of questions regarding my cur...