Bitcoin ETF Approval Could Be Imminent: Analysts Place the Odds at 90% for January

Crypto News- Renowned Bitcoin investor Lark Davis, in conjunction with a multitude of seasoned analysts, exudes a remarkable 90% confidence level in the impending approval of Bitcoin ETFs as early as January. This prevailing optimism was recently articulated by Davis in a compelling post on the social media platform X (formerly known as Twitter).

Bitcoin ETF Approval Could Be Imminent: Analysts Place the Odds at 90% for January

What’s intriguing is how this sentiment resonates across the broader cryptocurrency community, finding endorsement from individuals who share an analogous outlook, including Mister Crypto. Mister Crypto affirmed a longstanding belief, stating that he has consistently espoused this prediction for several months. In his view, it’s highly probable that all ETFs will receive the regulatory green light before January, with an even stronger likelihood of this happening within the current year.

The emergence of open letters from Congress has seemingly intensified the pressure on the U.S. Securities and Exchange Commission (SEC) concerning the pending ETF approvals. Eric Balchunas, an esteemed Senior ETF Analyst at Bloomberg, shed light on a notable shift in the SEC’s approach to engaging with ETF applicants. This shift suggests that an imminent approval is potentially on the horizon. Balchunas underlines the uniqueness of this situation and underscores a 75% certainty of an ETF gaining approval before the conclusion of 2023. In his assessment, a rejection seems increasingly unlikely.

Adding to the chorus of optimism is Steven Schoenfeld, a well-regarded figure within the industry and a former executive at BlackRock. Schoenfeld puts forth an estimation that the SEC is poised to give the green light to spot Bitcoin ETFs within the upcoming three to six months. This projection places the timeframe squarely between January and April 2024, aligning harmoniously with the consensus view held by several other astute cryptocurrency analysts.