Bloomberg Analyst Clears Air On New Odds Of Spot Bitcoin ETF Approval

Technology

Bloomberg ETF Analyst Clears Air On New Odds Of Spot Bitcoin ETF Approval – Crypto News

Published

2 years ago

November 29, 2023

Dripp

Bloomberg’s senior ETF Analyst Eric Balchunas has again clarified the anticipated spot Bitcoin ETF approval date. Reposting a previous X post of James Syffart, Eric argues that they are not getting away with their words that spot Bitcoin ETF approval is on the horizon.

Spot Bitcoin ETF Approval Approaching

In response to various queries about the approval of spot Bitcoin ETF, Eric stated that their odds are still at 90% about the Bitcoin ETF acceptance by the US SEC. About the date, Eric stated boldly that the spot Bitcoin ETF license will be granted before January 10, 2024.

Eric further flashes a light on some more filings of Bitcoin ETF along with the latest one. He argues that more filings could be seen before the actual approval date.

Additionally, Eric addresses an important step in the ongoing argument over ETF approval. While exact dates and deadlines are being discussed, the SEC and issuers are actively coordinating behind the scenes. Contrary to popular belief, their collaborative efforts aim to accelerate the readiness of ETFs within the current cycle.

Also Read: Compound Labs CEO Denies Asking SEC To Reject BlackRock Spot Bitcoin ETF

Enthusiasm Surrounding Spot ETFs

In a departure from the norm, Joe Carlasare, known for his reserved and realistic approach to spot ETF discussions, has made a significant prediction.

Carlasare took to X, expressing his confidence in the approval of several spot ETFs. He pinpoints Friday, January 5th, or Monday, January 8th, as potential approval dates.

This caught the attention of Ripple Lawyer John E Deaton, who acknowledged Joe’s reserved stance and shared his perspective as a seasoned investor, foreseeing a short-term correction post-approval. Deaton remains optimistic, suggesting a swift recovery and hinting at his intention to ‘hodl’ amidst the market dynamics.

Also Read: SEC Vs Terra And Do Kwon: Court Warns Making Confidential Materials Public