Possible Early Approval for Bitcoin Spot ETF by SEC
There are indications that the U.S. Securities and Exchange Commission (SEC) may approve spot Bitcoin ETF applications as early as January 5, 2024, although the exact timeline for approval and launch is uncertain. Traders and investors generally expect approval before January 10, 2024. The SEC has held meetings with several ETF filers, including Blackrock and Grayscale, and Cathie Wood, CEO of Ark Invest, expressed confidence in an approval in January 2024. Bloomberg analyst James Seyffart predicts a gap of only a few days between approval and trading commencement, which could lead to a bullish wave in the Bitcoin market ahead of the Q2 2024 halving event.
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