- The U.S. Securities and Exchange Commission is reportedly nearing its Bitcoin ETF decision.
- Industry experts are optimistic about approval.
- The timeline of the commission’s decision remains uncertain.
The looming question of when the Securities and Exchange Commission (SEC) will give its nod to Bitcoin ETFs has become a persistent focus for issuers and investors. As the industry watches with bated breath, several speculations have emerged regarding the likely timeline of the commission’s decision, with varying expectations on when the approval might occur.
Recent projections had suggested approval within the current week was a possibility, stirring both optimism and skepticism among market participants, leading industry analysts to scrutinize the realism of the forecasts.
Bitcoin ETF When?
On Thursday, January 4, crypto investor Anthony Scaramucci posted a cryptic message to his X account (formerly Twitter), seemingly teasing the approval of Bitcoin ETFs.
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The tweet said, “It’s done,” and stirred speculation that the SEC confirmed a Bitcoin ETF, especially considering Scaramucci’s consistent bullish stance on the asset class.
In response to the buzz, Bitcoin ETF expert Eric Balchunas provided important context, emphasizing that official approval has not been granted yet.
Balchunas asserted that the commission is in its final decision-making stage and that the additional filings by issuers are still pending.
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Echoing his sentiment, analyst Scott Johnson added that Bitcoin ETFs “can’t be approved until Monday at the earliest.” He stressed that the SEC will need additional time to review updated filings from the applicants, making approval within the current week unlikely.
While these recent developments contradict earlier projections of imminent approval, investors remain optimistic, particularly following the securities registrations by Bitcoin ETF proposers.
Grayscale, Ark Invest, VanEcK Charge ETF Approval Hopes
On January 4, Grayscale submitted its ‘Form 8-A’ to the SEC to register its Grayscale Bitcoin Trust (GBTC).
The move marked progress in the asset manager’s race for approval, allowing issuers to list and trade on an exchange upon the commission’s regulatory nod.
Following suit, other issuers, including Ark Invest, VanEck, similarly filed for the securities registration of their respective shares, further charging hopes for approval.
After the current phase, issuers must implement the SEC’s comments and file their individual B-19 and S-1 forms. These submissions will then be sent to the SEC for review and confirmation before establishing the final verdict.
On the Flipside
- The earliest deadline for SEC approval is January 10. However, the commission might extend this date if its decision-making process takes longer.
- Analyst Balchunas previously stated that the majority of the SEC’s decision-making committee favors the approval of Bitcoin ETFs.
- A January 3 Matrixport report projected a likely rejection of all Bitcoin ETFs, sending the crypto market into a price crash.
Why This Matters
While it’s uncertain when the SEC will finally decide on Bitcoin ETFs, the consistent predictions suggest a high likelihood of obtaining the long-awaited approval.
Read more on Grayscales’s bid for approval:
Grayscale Talks Bitcoin ETFs with JPMorgan and Goldman Sachs
Read this for more on controversial predictions of the likely rejection of Bitcoin ETFs:
Bitcoin ETF Poised for Rejection by SEC? $36K Projected
