Speculation is running high on social media that the U.S. Securities and Exchange Commission (SEC) is on the verge of approving a spot Bitcoin exchange-traded fund (ETF). This speculation has been fueled by a tweet from Grayscale’s legal chief and a tweet from a TechCrunch reporter citing sources close to the matter. While some analysts expect the approval to come next week, others believe it could happen as early as Friday.
Despite the excitement, Bloomberg ETF analyst James Seyffart dismisses much of the speculation as noise and predicts that the approval will likely arrive between January 8 and 10. Attorney Joe Carlasare also points out that the public comment period for several ETF applications doesn’t close until midnight on January 5, making it unlikely for approval to happen before next week.
The SEC is currently providing final comments, and issuers will soon file their final 19b-4 and S-1 forms. Both forms need to be approved by the SEC before an ETF can start trading. There are 14 issuers competing for a spot Bitcoin ETF, including BlackRock, Valkyrie, ARK Invest/21 Shares, Bitwise, and Fidelity.
While the rumor mill continues to churn, some remain skeptical about an ETF approval being issued before next week. Scott Johnsson, the general partner at VB Capital, questions whether there are already clear 19b-4 applications and whether the SEC would approve them simultaneously.
Overall, the anticipation for a spot Bitcoin ETF approval is high, with the hashtag #BTCETF and the term “Bitcoin ETFs” trending on Twitter. The price of Bitcoin has also been climbing since its recent drawdown, up 3.4% in the last 24 hours.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eric Balchunas, Joe Carlasare, Jacquelyn Melinek, James Seyffart, Scott Melkor, Scott Johnsson |
| Companies | Bitwise, X (formerly Twitter), Fidelity, BlackRock, TechCrunch, Grayscale, VB Capital, SEC, Eric Balchunas, Valkyrie, Bloomberg, Joe Carlasare, ARK Invest/21 Shares, TradingView |
| Currencies | Bitcoin |
| Securities | None |
