Optimism in the cryptocurrency market remains high as expectations for an ETF approval loom. Skeptics exist, but their lack of substantial arguments only fuels the positive outlook. Indicators pointing towards an ETF approval are increasing by the day, bolstering the confidence of those awaiting the decision.
Bloomberg analysts, citing a 90% probability, are confident that the SEC will grant ETF approval between January 8-10. When experts like Eric and James speak with such certainty in the volatile crypto market, there’s ample reason to believe.
Potential ETF issuers continue to update their filings. Grayscale is the latest to file Form 8-A, indicating a step closer to SEC registration as securities. This move suggests an impending approval, coming just a day after Fidelity’s submission and as the SEC is on the verge of deciding on a spot Bitcoin ETF.
Grayscale’s ETF process includes overlooked details. Following a court decision in August, the SEC revisited the process based on a previous application, avoiding a potential delay. The SEC’s recent conduct, including over 30 meetings in December and discussions with exchanges in the last 24 hours, indicates a reluctance to further resist the ETF approval process.
A Grayscale spokesperson stated their ongoing collaboration with the SEC to list GBTC as a spot Bitcoin ETF on the NYSE Arca, ready to operate as an ETF upon regulatory approvals. ETF issuers, including BlackRock and Fidelity, have held numerous meetings with the SEC and updated their filings, aligning everything with the SEC’s requirements, with the decision now pending.