In a recent statement, Bloomberg cryptocurrency analyst James Seyffart shared some interesting details about the Bitcoin spot ETF and its potential approval dates.
According to Seyffart, the U.S. Securities and Exchange Commission (SEC) will publish the Franklin/Hashdex delays in federal filings on December 1. According to the analyst, this rapid action indicates that the SEC is adjusting its processes for potential approvals.
The comment period for these delays is expected to end on January 5, 2024. This leaves a narrow window of just five days before Ark/21's January 10 deadline. While this may seem like a tight schedule for reviewing comments, Seyffart points out that Global X has received zero comments so far during the comment period.
This suggests that there may not be any unique comments that need to be worked out, according to the analyst, potentially making the review process smoother.
Seyffart suggests that if there are comments that need to be reviewed, approval could occur shortly after the first batch.
Based on these views, Seyffart predicts that the window for potential spot Bitcoin ETF approval could be between January 5 and January 10, 2024.
*This is not investment advice.
