{"id":20558,"date":"2023-08-02T13:23:31","date_gmt":"2023-08-02T13:23:31","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/etf-analyst-raises-spot-bitcoin-etf-approval-chances-in-the-us-to-65\/"},"modified":"2023-08-02T13:23:33","modified_gmt":"2023-08-02T13:23:33","slug":"etf-analyst-raises-spot-bitcoin-etf-approval-chances-in-the-us-to-65","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/etf-analyst-raises-spot-bitcoin-etf-approval-chances-in-the-us-to-65\/","title":{"rendered":"ETF analyst raises spot Bitcoin ETF approval chances in the US to 65%"},"content":{"rendered":"

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The chances of approval of a spot Bitcoin exchange-traded fund (ETF) in the United States have now increased to 65% from a mere 1% just a couple of months ago.<\/p>\n

Bloomberg ETF analysts Eric Balchunas and James Seyffart said in a recent statement that the chances of approval for a Bitcoin ETF have increased significantly over the past month owing to various new developments around the crypto market and the refiling of ETF applications by the likes of Blackrock.<\/p>\n

Seyffart noted that a lot will depend on the timing of the Grayscale case dates and their recent boost in approval will depend on Grayscale’s victory over the SEC in Federal court. He added that Grayscale\u2019s win against SEC could set trigger a series of simultaneous approval for all spit Bitcoin ETF filings by the end of the fourth quarter later this year.<\/p>\n

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The lynchpin for this current thesis is a Grayscale victory over the SEC in Federal court. Which COULD set things up for a wave of SEC approvals sometime in the 4th quarter? All depends on how much Gensler wants to fight here.<\/p>\n

\u2014 James Seyffart (@JSeyff) August 2, 2023<\/a><\/p><\/blockquote>\n

Seyffart believes that the BlackRock and the Coinbase surveillance sharing agreement (SSA) drastically changed the spot Bitcoin ETF analysis. Not to mention the ripple case which is less important but still relevant. We update our views and opinions as new information comes to light. <\/p>\n

Related: <\/em><\/strong>Ether ETFs pending \u2014 Grayscale, VanEck and others file SEC applications<\/em><\/strong><\/p>\n

The spot Bitcoin ETF filing spree began with BlackRock\u2019s filing with the SEC on June 16. WisdomTree, Invesco and Valkyrie along with several other institutional giants followed suit. The recent slew of filings in the second quarter of 2023 comes despite the Securities and Exchange Commission rejecting all spot ETF filings earlier. Many market analysts believe 2023 could prove crucial for the spot Bitcoin ETF.<\/p>\n

The spot Bitcoin ETF race has garnered attention from some of the biggest traditional financial institutions and analysts such as\u00a0Balchunas believe that the interest of institutional giants like Blackrock could be the best possible chance for approval of a spot Bitcoin ETF.<\/p>\n

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.<\/p>\n

Magazine: <\/em><\/strong>\u2018Elegant and ass-backward\u2019: Jameson Lopp\u2019s first impression of Bitcoin<\/em><\/strong><\/p>\n<\/div>\n