Despite widespread expectation that the U.S. Securities and Exchange Commission (SEC) may approve Bitcoin Spot ETFs today or tomorrow, Financial Lawyer Scott Johnsson offers a different perspective.
Contrary to popular rumors, Johnsson believes January 8 to 10 are still the most likely dates for the 19b-4 decision. Johnsson bases his argument on the SEC's past behavior during two related approvals in 2022, Teucrium and Valkyrie BTC futures. In these examples, the SEC waited until 2 business days and 1 business day before the deadline, respectively.
While Johnsson acknowledges that the situation may be different this time, he maintains his stance based on historical patterns. It also provides a breakdown of the SEC's decision announcement ahead of the deadline for Bitcoin filings. Here is the data on how many days the SEC decides before the final decision date for BTC-related products:
- 0 Days: 20%
- 1 Day 30%
- 2 Days: 15%
- 3 Days: 5%
- 4 Days: 10%
- 5+ Days: 20%
The SEC is expected to make a decision on BTC Spot ETFs by Wednesday next week (January 10).
*This is not investment advice.
