Following positive news, the price of Bitcoin surged above $42,600, marking significant developments. Updates were seen in numerous ETF filings, and the SEC postponed its decision on several ETH ETF applications. Now, BlackRock has taken the anticipated step.
Before Christmas, the SEC announced decisions for many ETFs. On January 10th, we will see the final decisions for several spot Bitcoin ETFs. If the SEC wants to approve or reject the applications without further delay, it could do so this week. Within a few weeks, it will need to make decisions on many applications, including those from BlackRock.
Just a few minutes ago, a significant file update was observed in the spot Bitcoin ETF application made by BlackRock. The company, which manages assets worth $10 trillion and has only rejected one of over 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.” Remember this code, because if approved, we could see it hundreds of times next year. The company indicates that the process is progressing following recent meetings by updating the S-1 ETF prospectus this month.
With the ETF code set and numerous file updates made, the SEC should be ready for approval. At least, that’s what Bloomberg ETF experts think. In the coming hours, with the opening of Asian markets, we may see a rapid increase in the price of BTC due to the impact of the latest news.
However, the risk posed by the PCE data to be announced on Friday should not be overlooked.