Jacquelyn Melinek, senior cryptocurrency journalist at Techcrunch, one of the popular platforms in the field of technology, announced in her statement that “according to information obtained from sources extremely close to the subject, the SEC will approve the Bitcoin Spot ETF applications of many companies.”
Melinek said that the new development regarding approvals will probably come tomorrow.
heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for *multiple* firms' applications
— Jacquelyn Melinek (@jacqmelinek) January 4, 2024
Bloomberg's cryptocurrency expert James Seyffart also gave the message that “we are getting closer” regarding Bitcoin Spot ETFs in his post about 1 hour ago. Bloomberg analysts Eric Balchunas and James Seyffart have long thought that Bitcoin Spot ETFs will be approved.
In June 2023, BlackRock, the world's largest money manager with $9 trillion in assets under management, filed a filing that turned the tide by including a custody-sharing agreement with Nasdaq to address the SEC's concerns.
The industry expects BTC Spot ETFs to be approved given their experience with the ETF product and the fact that they have only had one application rejected to date.
*This is not investment advice.
