Bitcoin Spot ETF Approval Odds Increasing
Industry experts predict a rise in the likelihood of the Securities and Exchange Commission (SEC) approving a spot-based Bitcoin exchange-traded fund, following the approval of America’s first Ethereum futures ETFs. This confidence is bolstered by the recent approval of America’s first ETFs.
Crypto trader Alex Krüger predicts a 70% chance of spot Bitcoin ETF approval in January, stating that it is tradable. He compared crypto traders to ‘Selling the News’ professionals, stating that selling the news requires front-running.
ETF store President Nate Geraci emphasized the launch of Ether futures ETF despite the anticipated approval of spot ETFs in the near future.
Crypto Rover and “Bitcoin Therapist” predict that the SEC will be forced to accept a spot Bitcoin ETF after Ripple’s partial victory against the SEC. They believe the SEC will continue to use the crypto fraud scapegoat, but the approval of the ETF is expected to generate trillions of dollars.
Former BlackRock director claims SEC will approve spot Bitcoin ETFs within three to six months, with potential capital inflows of up to $200 billion. Bloomberg ETF expert Eric Balchunas announced that the SEC’s appeal deadline is October 13, and spot filings are expected to be delayed until January 3.
(With inputs from Shikha Singh)
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