Triple Bitcoin Spot ETF Decision Delayed: Analyst Foresees High Approval Odds by January 10th
SEC Set to Review Three Bitcoin Spot ETFs
Bloomberg ETF analyst James Seyffart has indicated that the U.S. Securities and Exchange Commission (SEC) is poised to review three Bitcoin spot ETFs in mid-November:
- Hashdex’s “Hashdex Bitcoin ETF” on November 17th.
- Franklin’s “Franklin Bitcoin ETF” on November 17th.
- Global X’s “Global X Bitcoin Trust” on November 21st.
Anticipating SEC Delays but High Hopes for January Approval
Seyffart believes that while it’s likely the SEC will postpone decisions on these ETFs, it doesn’t diminish his optimism. He emphasizes that all issuers who have submitted their 19b-4 applications stand a strong 90% chance of approval by January 10th. Seyffart also addresses the possibility of the SEC either rejecting all applications or being reluctant to approve 12 issuers simultaneously.
Probability of Approval This Week — A Speculative Guess
Responding to queries about the likelihood of these ETFs getting the green light this week, Seyffart commented that predicting the outcome is akin to relying on intuition due to numerous variables. He noted, “While the probability of approval this week is greater than zero, it’s less than 50%.”
Conclusion:
As the cryptocurrency community eagerly awaits the SEC’s decisions on these Bitcoin spot ETFs, Seyffart’s analysis offers a glimmer of hope for a positive outcome by early next year. The SEC’s upcoming decisions will be crucial in shaping the future of Bitcoin ETFs and, by extension, the wider cryptocurrency market.
Keywords: Bitcoin Spot ETF, SEC, James Seyffart, Bloomberg ETF Analyst, Hashdex Bitcoin ETF, Franklin Bitcoin ETF, Global X Bitcoin Trust, Cryptocurrency Market, 19b-4 Application, U.S. Securities and Exchange Commission
