It has been revealed the fact that the SEC spot BTC ETF approval might be set for January 5-10, 2024. Check out more details about this below.
SEC’s approval for BTC ETF is set for the beginning of 2024The US Securities and Exchange Commission (SEC) is expected to make a ruling on Spot Bitcoin ETF approval between January 5th and 10th.
Bloomberg’s James Seyffart confirmed these dates and predicted that approval orders are likely to be issued from January 8th to 10th. The regulatory agency still has over a dozen Spot Bitcoin ETF applications to consider before making a decision.
For the past few months, there has been a lot of speculation about the possibility of a Spot Bitcoin ETF being approved in the US. This approval would be a first of its kind and could lead to further growth of the digital asset.
Now, the Securities and Exchange Commission (SEC) has clarified the timeline for making a decision on these applications.
According to Bloomberg’s James Seyffart, the SEC is expected to make a decision on over 12 applications for a Spot Bitcoin ETF between January 5th and 10th. Seyffart also added that any approval is likely to begin on January 8th.
The SEC has been postponing its decision on the Bitcoin product, but many experts predict that this could change in early 2024. Some anticipate that a decision will be made in January, which aligns with the reported approval window.
The speculation surrounding this decision has benefited Bitcoin, as it has officially surpassed the $38.8K mark for the first time since 2022.
Standard Chartered has predicted that the approval of an ETF would lead to over 160% gains, propelling the asset to its predicted price of $100,000 by the end of 2024.
Stay tuned for more news about the imminent approval of the BTC ETF that we are all waiting for.
