Spot Bitcoin ETF Imminent? SEC Approval Window Is Due To Open — Or Will It Just Get Punted?
Portfolio Pulse from Khyathi Dalal
The approval window for all pending Spot Bitcoin ETFs opens tomorrow and will last for at least eight days. Bloomberg’s ETF analyst James Seyffart and BI Senior ETF analyst Eric Balchunas suggest a 90% probability of approval by Jan. 10, 2024. The 12 Spot Bitcoin ETF applications are from Grayscale, ARK 21Shares, BlackRock, Bitwise, VanEck, Wisdomtree, Invesco & Galaxy, Fidelity, Valkyrie, Global X, Hashdex, and Franklin Templeton. BlackRock's approval could bring $200 billion to Bitcoin and push BTC price to $330,000.
November 08, 2023 | 8:51 pm
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BlackRock's approval for a Spot Bitcoin ETF could bring $200 billion to Bitcoin and push BTC price to $330,000.
The news of the potential approval of BlackRock's Spot Bitcoin ETF is significant. If approved, it could bring a substantial amount of investment into Bitcoin, which would likely drive up the price of BTC. This would be beneficial for BlackRock as it would increase the value of their ETF.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Grayscale's Spot Bitcoin ETF is among the 12 applications pending approval.
Grayscale's Spot Bitcoin ETF is among the 12 applications pending approval. If approved, this could lead to an increase in the value of Grayscale's assets, which would be beneficial for the company.
CONFIDENCE 60
IMPORTANCE 70
RELEVANCE 70