Fidelity, Bloomberg Analysts Predict 75% Chance of Bitcoin ETF Approval This Year

Grayscale Victory and the Rise of Spot Bitcoin ETF Approval Odds
Following the recent success of Grayscale in its case against the federal securities regulator, Bloomberg analysts have increased their probability of an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023 to 75%.
Eric Balchunas, a senior ETF analyst at Bloomberg, announced the new odds on crypto Twitter, citing the unanimous and decisive decision of the United States Court of Appeals Circuit as the primary factor. James Seyffart and Elliot Stein, Bloomberg analysts, also noted in their Aug. 30 post that the Securities and Exchange Commission (SEC) will struggle to justify further denials as it faces deadlines.
Seyffart further commented on crypto Twitter that spot Bitcoin ETF approvals will likely be a “done deal” by Q4 2024, with the approval odds now estimated to have skyrocketed to 95%.
SEC Bitcoin Spot ETF Applications
Given the recent legal and public relations loss, a denial by the SEC will be “politically untennable,” according to crypto Twitter. Over the next five days, seven Bitcoin spot ETF applications are due for a “first deadline” decision by the SEC, including Bitwise, BlackRock, VanEck, Fidelity, Invesco, Wisdomtree and Valkyrie.
According to Bloomberg Crypto, it wouldn’t be surprising if the SEC delays these upcoming Bitcoin spot ETF applications. However, Harmony One Crypto suggests that the most likely outcome will be that the SEC unexpectedly approves the Bitcoin spot ETFs all at once.
Bitcoin (BTC) activity on the blockchain has returned to levels seen prior to its 2021...
After the FTX debacle, one of the biggest issues facing the crypto industry is the...
Hong Kong is poised to become the first city in the region to offer spot...
CoinShares Optimistic About Crypto Regulation in the US European cryptocurrency investment firm CoinShares is looking...
Poloniex Resumes Withdrawals and Deposits After $100M Hack Cryptocurrency exchange Poloniex has announced that it...
The Bitcoin (BTC) market has been “ultra boring” recently, but traders remain hopeful that it...
Replacement Cycling Attack and Bitcoin Ecosystem Antoine Riard, a security researcher and developer, has recently...
The upcoming Bitcoin halving is expected to take Bitcoin’s price to a new all-time high...
When the markets are trending, traders should be active if they want to earn money....
The recent crypto crash saw the price of Bitcoin plummet by 11.5% from Aug. 16...
Matrixport’s Bold Bitcoin Prediction Matrixport, a cryptocurrency trading firm founded by Bitmain co-founder Wu Jihan,...
As the US economic policy speech draws closer, Bitcoin (BTC) has remained steady at around...