Cryptocurrency investors have high expectations for 2024, and there are many developments justifying this optimism. The upcoming year is expected to bring significant events, from interest rate cuts to halving of block rewards. With investment fund approvals, increasing institutional demand, and excitement in the RWA field, it would not be surprising to see new highs in December.
Expectations for Bitcoin ETF approval are building around January 9-10. As these dates approach, an increase in market demand is expected. This has been one of the main reasons for the ongoing rally in recent weeks.
Bitwise made some changes in their S-1 or prospectus filing. This was announced by Bloomberg ETF analyst James. It reflects a strong communication between them and the SEC and brings us closer to approval news with each passing day.
Eric Balchunas stated that we are expecting updated S-1 filings and that these filings include final and comprehensive comments from the SEC. However, the SEC currently requested the files to be resubmitted shortly before the approval date.
Eric shared his views and expectations, emphasizing that the only thing that seems certain for now is when the Spot Bitcoin ETF will be approved, not if it will be approved.