{"id":202631,"date":"2023-11-29T07:03:19","date_gmt":"2023-11-29T01:33:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202631"},"modified":"2023-11-29T07:03:19","modified_gmt":"2023-11-29T01:33:19","slug":"clear-runway-opens-for-all-bitcoin-etf-approvals-in-jan-analysts-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/clear-runway-opens-for-all-bitcoin-etf-approvals-in-jan-analysts-crypto-news\/","title":{"rendered":"\u2018Clear runway\u2019 opens for all Bitcoin ETF approvals in Jan: Analysts – Crypto News"},"content":{"rendered":"
\n

Bitcoin (BTC<\/a>) spot exchange-traded funds (ETFs) in the United States now have a \u201cclear runway\u201d to potential simultaneous approvals after an advanced decision to delay the bids of Franklin Templeton and Hashdex ETFs, according to ETF analysts.<\/p>\n

In a Nov. 28 X (Twitter) post<\/a>, Bloomberg ETF analyst James Seyffart said the Securities and Exchange Commission delayed its decision on the applications 34 days earlier than the Jan. 1, 2024, decision deadline.<\/p>\n

The SEC requested comments<\/a> on forms by Templeton and Hashdex that are necessary for the ETFs to eventually be listed and start trading. The comment and rebuttal period will last 35 days.<\/p>\n

Seyffart and his colleague Eric Balchunas had placed 90% odds<\/a> on spot Bitcoin ETF approvals by Jan. 10 next year, and the twin delays \u201call but confirms for me that this was likely a move to line every applicant up for potential approval by the Jan 10, 2024 deadline,\u201d Seyffart said.<\/p>\n

Balchunas agreed, posting to X that the SEC was \u201cprob looking to get them out of the way, clear runway.\u201d<\/p>\n

\n

Prob looking to get them out of the way, clear runway<\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) November 28, 2023<\/a><\/p><\/blockquote>\n

Commercial litigator Joe Carlasare thinks, however, the delays increase the probability of a March 2024 approval as the comment period for Franklin\u2019s ETF bid was extended until Jan. 3, 2024, and the SEC typically takes a maximum of three weeks to review comments.<\/p>\n

\n

The Franklin BItcoin spot ETF comment period now extends until January 3rd. <\/p>\n

The SEC typically reviews comments for at least 2-3 weeks. Therefore, although it\u2019s not guaranteed, this increases the probability of a March approval. <\/p>\n

January is still likely the favorite though.<\/p>\n

\u2014 Joe Carlasare (@JoeCarlasare) November 28, 2023<\/a><\/p><\/blockquote>\n

\u201cJanuary is still likely the favorite though,\u201d he added.<\/p>\n

Related: <\/em><\/strong>Futures will be the best crypto game in town even after a Bitcoin spot ETF<\/em><\/strong><\/a><\/p>\n

On Nov. 28, Franklin also submitted an updated Form S-1 for its ETF \u2014 a document registering securities with the SEC \u2014 after Seyffart earlier highlighted it was the only bidder yet to submit an updated prospectus.<\/p>\n

Reacting to the filing, Balchunas said while he\u2019s in favor of letting all ETFs launch simultaneously, it \u201cseems kinda unfair\u201d that Franklin might be allowed to launch its ETF the same day as other providers despite submitting the form months later.<\/p>\n

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While I’m generally in favor in letting them launch at same time, Franklin jumped in sooo late vs others, like 5mo after ARK filed and yet they may be able to launch the same day.. seems kinda unfair… but i suppose SEC can’t really draw any lines here<\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) November 28, 2023<\/a><\/p><\/blockquote>\n

There are currently 12 spot Bitcoin ETFs before the SEC, including bids from Grayscale and BlackRock. Most have final decision dates in March, besides ARK Invest\u2019s bid, which the SEC must approve or deny by Jan. 10, 2024.<\/p>\n

Magazine: <\/em><\/strong>Beyond crypto \u2014 Zero-knowledge proofs show potential from voting to finance<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States now have a \u201cclear runway\u201d to potential simultaneous approvals after an advanced decision to delay the bids of Franklin Templeton and Hashdex ETFs, according to ETF analysts. In a Nov. 28 X (Twitter) post, Bloomberg ETF analyst James Seyffart said the Securities and Exchange Commission […]<\/p>\n","protected":false},"author":2,"featured_media":202632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-202631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202631"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202631\/revisions"}],"predecessor-version":[{"id":202634,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202631\/revisions\/202634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202632"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}