The SEC hosted meetings with exchanges that would list spot Bitcoin ETF shares on Wednesday<\/p>\n
Finance analysts have resumed bullish pronouncements that pending spot Bitcoin ETF applications may soon receive approval in spite of yesterday\u2019s short-lived BTC flash crash.<\/p>\n
On Jan 3, Fox Business published a\u00a0report<\/a>\u00a0asserting that the U.S. Securities and Exchange Commission (SEC)\u2019s Division of Trading Markets met with official representing the New York Stock Exchange, Nasdaq, and Chicago Board Options Exchange \u2014 major venues where the proposed spot Bitcoin ETFs would trade. The report cited anonymous sources representing the exchanges.<\/p>\n \u201cSources close to the proceedings say the SEC could begin notifying issuers of approval on Friday with trading beginning as early as next week,\u201d the report said. The report also follows several rounds of\u00a0meetings<\/a>\u00a0between spot Bitcoin ETF applicants and the SEC last month.<\/p>\n Scott Johnsson, a finance lawyer and general partner at Van Buren Capital, responded by tweeting that the SEC is unlikely to expend its resources on the meetings if it plans to deny the ETF applications. \u201cIf you intend to deny, you just deny,\u201d Johnsson\u00a0said<\/a>.<\/p>\n <\/p>\n Eric Balchunas<\/a>, a senior ETF analyst, also\u00a0tweeted<\/a>\u00a0that the SEC would be unlikely to hold said meeting if it was planning to deny or delay the pending cohort of Bitcoin ETF applicants. Balchunas cited a recent spate of updated SEC filings from applicants as further evidence their approval is fast approaching.<\/p>\n James Seyffart, a fellow Bloomberg analyst, chimed in that he still\u00a0expects<\/a>\u00a0the SEC to issue spot Bitcoin ETF approvals between Jan. 8 and Jan. 10.<\/p>\n Craig Salm, the chief legal officer Grayscale, a front-running<\/a> spot Bitcoin ETF applicant, further stoked expectations by tweeting<\/a> “just filling out some forms” on Jan. 4.<\/p>\n The price of BTC is up 2.6% in the past 24 hours, according to CoinGecko.<\/p>\n The bullish speculation comes after a violent\u00a0flash crash<\/a>\u00a0wracked the Bitcoin and crypto markets yesterday, with $100B wiped from the combined crypto capitalization as leading assets shed 6% of their value.<\/p>\n The sharp sell-off followed the publication of a research report from Matrixport claiming that the pending spot Bitcoin ETFs are likely to be rejected, however, most analysts are attributing the pull back to\u00a0excessive leverage<\/a>\u00a0getting flushed from the crypto markets.<\/p>\nFlash crash<\/h2>\n
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