Bitcoin‘s price has risen above $42,600 following positive news. Updates were made in many ETF applications, and the SEC postponed its decision on some ETH ETF applications. Now, BlackRock has made the anticipated move.
The SEC announced decisions for many ETFs before Christmas. Final decisions for a few spot Bitcoin ETFs will be given on January 10th. If the SEC wants to approve or reject the applications without further delay, it could do so this week.
A few minutes ago, a significant file update was seen in the spot Bitcoin ETF application made by BlackRock. The company, which manages assets worth $10 trillion and has only received one rejection out of more than 500 applications to date, has determined the ETF code.
If the SEC approves BlackRock at the beginning of January, the iShares Bitcoin Trust will trade on the exchange under the symbol “IBIT”. The company, which updated its S-1 ETF prospectus this month, indicates that the process has progressed following their last meetings.
The determination of the ETF code and the many file updates suggest that the SEC should be ready for approval. At least that’s what Bloomberg ETF experts believe. With the latest news, a rapid increase in BTC price is expected as the Asian markets open.
However, the risk posed by the PCE data to be announced on Friday should not be overlooked.