Experts predict that the United States could see its first spot Bitcoin ETF by the end of 2023. Two Bloomberg exchange-traded fund (ETF) analysts, Eric Balchunas and James Seyffart, have upped their prediction to a 75% chance of a spot Bitcoin ETF launch in the US.The positive sentiment comes after Grayscale scored a major victory against the US Securities and Exchange Commission (SEC). The US Court of Appeals for the District Court of Columbia Circuit vacated the Commission’s decision to deny the asset manager’s application to convert its GBTC to an ETF. Grayscale had argued that the regulator was being discriminatory by approving Bitcoin futures ETFs but denying spot BTC ETFs.Several filings are awaiting the SEC’s decision early in September, including applications from Bitwise, BlackRock, WisdomTree, Invesco, and VanECK. Bloomberg Intelligence earlier predicted that a spot Bitcoin ETF could launch before Sept. 4. However, Balchunas said it would not be surprising if the SEC delays its decision on the heels of the recent court ruling but added that approval could happen at any time.Balchunas also noted that the SEC suffered a PR loss in addition to its legal defeat, suggesting that the Grayscale unanimous victory was covered extensively in mainstream media by major outlets such as the Wall Street Journal, CNN, and the New York Times. Both ETF experts believe the PR and legal losses for the SEC “will make denial politically untenable.”

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	10
People	New York Times, Eric Balchunas, Wall Street Journal, James Seyffart, CNN
Companies	BlackRock, Invesco, Grayscale, SEC, Bitwise, US Court of Appeals for the District Court of Columbia Circuit, VanECK, WisdomTree
Currencies	Ethereum, US Dollar, Bitcoin, goBTC, Sector
Securities	None