The post Bitcoin ETF approvals anticipated in January; Ethereum in unique position appeared on BitcoinEthereumNews.com.

In a recent episode of The Scoop podcast, Bloomberg Intelligence analysts James Seyffart and Eric Balchunas predict a high likelihood of the SEC approving a series of spot Bitcoin ETFs between Jan. 5-10. Seyffart and Balchunas’s prediction aligns with the final deadline for the ARK and 21Shares application, initially filed in April, preceding other major players like BlackRock in June in a competitive field of 12 firms. Seyffart speculates that the Securities and Exchange Commission (SEC) has been strategically delaying decisions, possibly to align multiple approvals simultaneously. This approach would prevent any single firm from gaining an unfair advantage. Seyffart warns that if the SEC were to deny these applications, it would represent a significant shift in its approach, akin to “going nuclear.” 🚨 BREAKING 🚨 SEC holds another meeting with BlackRock to discuss its Spot #Bitcoin ETF. As per Bloomberg Intelligence analyst James Seyffart, the window for approval of a Spot ETF is from January 5–10, 2024. And the market is already expecting ETF approval by next month. — Ash Crypto (@Ashcryptoreal) December 15, 2023 The SEC’s reluctance to play kingmaker in the cryptocurrency ETF arena reflects its efforts to maintain neutrality and fairness. Seyffart, citing various sources, believes that the SEC’s pattern of behavior, especially observed during the approval of ether futures ETFs earlier this year, indicates a likelihood of mass approval of Bitcoin spot ETFs. The conversation also touched on Grayscale Investments’ victory against the SEC, which could influence the approval of its Grayscale Bitcoin Trust (GBTC) product into a spot Bitcoin ETF. Seyffart notes that this case has backed the SEC into a corner, potentially accelerating approvals. However, the path for spot ether ETFs appears more complex, given the differences in market robustness and underlying technologies between Bitcoin (BTC) and Ethereum (ETH). While optimistic, Seyffart suggests…

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Filed under: News - @ December 17, 2023 3:16 am