SEC Ready to Greenlight Spot Bitcoin ETFs in January, Predicts Bloomberg Analyst
A Bloomberg analyst, James Seyffart, suggests that the U.S. Securities and Exchange Commission (SEC) might be gearing up to approve all spot market Bitcoin (BTC) exchange-traded fund (ETF) applications in January.
Seyffart notes the SEC’s early rulings on Franklin’s BTC ETF bids, speculating that this preemptive decision could pave the way for a series of approvals in January. While Franklin was not due for a decision until January 1, the SEC’s early move hints at a coordinated effort. However, the SEC delayed Hashdex’s bid, leading Seyffart to believe the agency aims to approve all BTC ETF applications simultaneously by the January 10, 2024 deadline.
Seyffart acknowledges potential hurdles, such as filing process complications or the SEC denying the bids, emphasizing the fluidity of the approval process.
Clever Robot News Desk 1st December 2023