Cryptocurrency investors have many reasons to be optimistic about the short and medium-term price performance. A detail that caught the attention of Bloomberg ETF analyst Eric, which takes us to the end of 2021, was announced just a few minutes before from our X account.
The educational unit of the U.S. Securities and Exchange Commission (SEC) shared an article on social media focusing on cryptocurrency risks just a few minutes ago. Interestingly, the article was published at the beginning of 2023 and shared at a time when SEC’s approval belief was strong.
Bloomberg ETF analyst Eric pointed out that similar cautionary announcements had been made prior to the approval of the Bitcoin futures ETF named BITO. The SEC might have been sending a major signal by repeating its past posts as the approval for a spot Bitcoin ETF approached.
Eric and other Bloomberg ETF analysts say that the SEC is likely to approve the spot Bitcoin ETF by January 10th with a 90% probability. Numerous ETF filing updates have been shared, showing the SEC’s strong communication with potential rule-breakers.
According to analysts, the ETF approval is likely to be officially granted soon, which will open the doors for institutional demand in cryptocurrency. However, investors should be prepared for all possibilities, as they cannot talk about absolute certainty without the ability to see the future.