The possible approval of a Bitcoin ETF by the United States Securities and Exchange Commission (SEC) is getting closer and closer to happening. This event marks a crucial moment, with high expectations of significant transformations in the US cryptocurrency investment landscape.
Bloomberg analyst James Seyffart is optimistic about the SEC’s imminent decision. According to him, the Bitcoin ETF’s chance of approval is an impressive 90%, an estimate based on recent interaction between the SEC and asset managers. This forecast generates an environment of expectation and optimism among investors.
Eric Balchunas, another big name in the field, recently commented on the SEC’s final stage of deliberation regarding ETF applications. His statement is revealing: “So I want to say this is as close to ‘done’ as we’ve been, but no official approval yet as I know.”
Getting closer https://t.co/qeTQi4sexV
— James Seyffart (@JSeyff) January 4, 2024
The SEC, which faced a legal setback against Grayscale, appears to have limited options. Seyffart believes the commission is unlikely to deny or delay approval, making acceptance of Bitcoin ETFs the most likely outcome. This situation puts the market at an inflection point, where approval could bring a new wave of interest and investment in cryptocurrencies.
The approval of the Bitcoin ETF could mean the injection of up to US$10 billion into the market in its first year, with projections not to exceed US$100 billion in the near future. This scenario suggests considerable growth potential, although immediate market expansion may be limited.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/decisao-da-sec-etf-bitcoin-esta-na-fase-final-para-aprovacao-diz-analista-da-bloomberg/
