Countdown to Bitcoin ETF Approval in the US
Date: 2024-01-08 Author: Dima Zakharov Categories: IN WORLD
Today, on January 8th, the "X-hour" is just two days away. Experts believe that the US Securities and Exchange Commission (SEC) will give its affirmative response regarding the approval of the first spot Bitcoin ETFs in the US by the scheduled date. Meanwhile, as the much-anticipated date approaches, discussions persist about the effect of launching new exchange-traded funds on the primary cryptocurrency.
It's worth noting that the question of the approval timeline for the new Bitcoin ETFs in the US has been a hot topic in the crypto community. Initially, Bloomberg analysts expected approval from the SEC between January 8th and January 10th, 2024.
However, last week, TechCrunch's Jacqueline Melnick hinted at the anticipation of something significant happening on Friday, suggesting the approval of the corresponding investment instrument. Moreover, this event was preliminarily signaled by the submission of updated Form 19b-4 by all ETF issuer companies, as revealed over the weekend.
With these developments, cryptocurrency enthusiasts are now counting on a favorable verdict from the SEC on Wednesday, January 10th. Notably, the leadership of the largest investment company, BlackRock, is also placing their bets on this specific day, implying that the new week might witness sharp fluctuations in coin prices.
