Bloomberg Analysts Now See a 75% Chance A Spot Bitcoin ETF Will Launch In 2023

Bloomberg Analysts Now See a 75% Chance A Spot Bitcoin ETF Will Launch In 2023
фото показано с : zycrypto.com

2023-9-1 19:06

ETF analysts at Bloomberg Intelligence have raised their estimates for the launch of a spot Bitcoin exchange-traded fund (ETF) in the U.S. to 75% from 65% after Grayscale’s court victory.

Spot Bitcoin ETF Odds Upped To 75%

Grayscale’s landmark victory yesterday has boosted optimism for a spot Bitcoin ETF this year.

Bloomberg ETF analysts Eric Balchunas and James Seyffart said in a recent statement that the chances of approval for a Bitcoin ETF have increased to 75% from 65% at the beginning of August.

“James Seyffart and I are upping our odds to 75% of spot bitcoin ETFs launching this year (95% by the end of ’24). While we factored Grayscale win into our prev 65% odds, the unanimity & decisiveness of ruling was beyond expectations and leaves SEC w “very little wiggle room,” Balchunas remarked on X (formerly Twitter).

Grayscale’s Win

Grayscale’s consequential court win against the SEC on Tuesday, one which saw a federal appeals court call the SEC’s reasons to thwart the digital asset firm’s application “unlawful,” has been key in the change in sentiment. The court addressed the SEC’s inconsistent treatment of spot Bitcoin ETFs and similar futures-based funds, which the commission has highlighted.

After the court’s decision, Bitcoin’s price swelled by 6% to over $27,000.

The regulator has already witnessed a renewed wave of spot Bitcoin ETF applications over the past few months, including Wall Street titans such as BlackRock and Fidelity. The recent slew of filings comes despite the SEC disapproving every such ETF filing it’s reviewed to date. Many industry pundits think 2023 could prove crucial for the approval of spot Bitcoin ETF.

The deadline for six filings is coming this weekend. However, the deadline is not fixed, as the SEC can extend it if it needs additional time to review a filing. Furthermore, Balchunas and Seyffart are expecting “delay orders” to this week’s deadlines as they believe approval is “highly unlikely so soon after the court decision,” opined Seyffart.

While the latest Grayscale development is a strong bullish signal for the market, the decision on when and if the firm will be able to finally list its GBTC product as a spot ETF in the United States is yet to be made.

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Источник: zycrypto.com

etf launch → Результатов: 126


Bitcoin ETFs could have the same result as CME group futures launch in 2017

The SEC is set to approve five futures exchange-traded funds by the end of October. While the entire market expects a huge parabolic move, it is important to consider a bearish scenario. The bitcoin-related companies listed under the ETF will help investors gain exposure, but the cost of holding the underlying asset will get expensive.

2021-10-14 14:47


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Одобрение SEC биржевого фонда (ETF) на базе биткоина может оказать негативное воздействие на его цену. Об этом заявил CEO Pantera Capital Дэн Морхэд. 12-month rallies heading into Coinbase's IPO and CME Bitcoin futures launch — both of which marked cycle peaks — were 9.

2021-10-11 19:03


CEO Pantera Capital допустил волну продаж биткоина после одобрения ETF

Одобрение SEC биржевого фонда (ETF) на базе биткоина может оказать негативное воздействие на его цену. Об этом заявил CEO Pantera Capital Дэн Морхэд. 12-month rallies heading into Coinbase's IPO and CME Bitcoin futures launch — both of which marked cycle peaks — were 9.

2021-10-11 16:34


Фото:

Highly-Anticipated U.S. Bitcoin ETF Likely To Launch In October, Bloomberg Analysts Predict

Eric Balchunas and James Seyffart – Bloomberg’s in-house ETF analysts – on Tuesday published an investor note that predicts that a Bitcoin ETF approval may likely arrive in October. They suggest that the recent Ethereum futures ETF withdrawal that ProShares and VanEck made could be an indicator that things are beginning to move rapidly in […]

2021-8-28 00:04


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