BlackRock made the news in June by filing a BTC ETF, causing the price of Bitcoin to jump from $25k to $30k. In the last few weeks, rumors have grown around the idea that all ETFs might be approved in the first weeks of January 2024. Let’s take a closer look at it.
The Final Date For An Approuval Is Comming Soon
Source : Bloomberg
As you can see above, the final deadline for the Ark Invest Bitcoin ETF is the 10th of January. This means that if it’s not approved, it has to be refused, making it very bad news for the crypto market to withstand.
Because the SEC has postponed all the ETFs without actually rejecting them, it makes me realize that they just want to see improvement in the management of the ETFs and that they are not opposed to a Bitcoin ETF.
Moreover, the fact that there are meny meetings between the SEC and representatives of Bitcoin ETFs make us believe that we are closer to an acceptation than a rejection :
Source : Twitter (X)
Furthermore, some sources say that the SEC is asking for the final updates to the ETFs rapidly, probably to accept them all at once :
Source : Twitter (X)
The Scenarios
With all of that in mind, It’s either gonna be :
- Approbation All of the ETF apllication in one wave before the 10th of January.
- Waves of acceptation beacuse not all ETFs are the same (most likekly for me)
- Rejection of the Ark Invest ETF BTC apllication
Either way, this is going to be the first decisive moment for crypto in 2024. Are we going to see the first-ever US Bitcoin Spot ETF or a rejection ?
What do you think will happen ? I’ll be glad to read your toughts
As Always thank you for reading !
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Disclaimer : This is not a financial advice, you need to do your own research !
