Bloomberg ETF analysts have raised the odds of Spot Bitcoin ETFs being approved to 90 percent.
The crypto market has been keeping an eye on ETFs for the past few months. The Spot Bitcoin ETF step taken by BlackRock grew like an avalanche with the involvement of many corporate companies. Companies such as Ark Invest, 21Shares and Fidelity have also applied for a Spot Bitcoin ETF.
Discussing the recent processes, Bloomberg ETF analysts shared their opinions about the complex Spot Bitcoin ETFs. Analysts put the chances of ETFs being approved by the SEC at 90 percent.
Bloomberg analysts are confident about Spot Bitcoin ETFs!
Bloomberg ETF analysts Eric Balchunas and James Seyffart increased the odds of Spot Bitcoin ETF applications being approved by the SEC to 90 percent.
Analysts attributed the approval probability, which they increased to 90 percent, to Ark Invest and 21Shares updating their Bitcoin ETF prospectuses upon request from the SEC. Institutions have added documentation about the new language and more context to their ETF applications.
Expressing their opinions on the subject, analysts said, “ This back-and-forth between the SEC and its funders is standard practice for new launches. However, this is a first for spot Bitcoin ETF applications. This suggests that the SEC is working to approve Ark’s offer.” said.
Bloomberg’s analysts expect the SEC to approve Spot Bitcoin ETF applications by January 10.
