The US Securities and Exchange Commission (SEC) is speculated to approve a spot Bitcoin ETF, causing a surge in the digital asset market. Bitcoin experienced a 6% increase on the second day of 2024, surpassing $45,000 for the first time since April 2022. The anticipation surrounding the ETF approval suggests that Bitcoin will gain institutional and widespread acceptance, leading to increased buying activity from traders and investors.
Recent predictions indicate that the SEC may approve the introduction of multiple spot Bitcoin ETFs, which has been driving the market growth in recent weeks. However, the decision on Bitcoin ETF approvals remains uncertain. The SEC might start notifying ETF sponsors about the acceptance of their applications as early as January 2. Eleanor Terrett of FOX Business expressed skepticism about the SEC’s decision-making process, stating that it would be surprising if approvals were granted so soon.
Terrett explained that the SEC needs to review and comment on the changes made to the S-1 forms filed by issuers on Thursday and Friday. After this review phase, the SEC will notify the issuer of the final submission date for the S-1 form, which could take effect within the next 24 to 48 hours. Despite speculation that the SEC might approve the first Bitcoin ETF on January 2, Terrett believes it is unlikely given the recent vacation of SEC staff members. However, she remains optimistic about the next two weeks being exciting for the cryptocurrency market.
Adding to the discussion, FOX Business journalist Charles Gasparino revealed that people at BlackRock claim there has been no communication from the SEC regarding the Bitcoin ETF. Terrett’s sources suggest that the SEC still has a significant amount of paperwork to go through, making an announcement more likely towards the end of the week. This statement implies a potential delay in the release of the ETF and highlights the workload currently faced by the SEC.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eleanor Terrett, Charles Gasparino, Scott Melker |
| Companies | Bitcoin ETF, Reuters, FOX Business, X, S-1 form, US Securities and Exchange Commission, Ethereum futures, BlackRock, TradingView.com |
| Currencies | Bitcoin |
| Securities | None |
