As the January 10 deadline for the US Securities and Exchange Commission (SEC) to decide on a series of spot Bitcoin Exchange-Traded Funds (ETFs) approaches, the market is rife with speculation. Initially, there was a strong consensus for approval, but recent expert analyses suggest a possible change in course. Meanwhile, the Bitcoin price has crashed by 6.5% in 20 minutes, dropping from $44,400 to $41,500. 1. Bloomberg’s Insight: A Matter of Timing, Not Denial Bloomberg’s ETF expert, Eric Balchunas, assessed a mere 10% chance of the ETFs not being approved, primarily due to the SEC requiring additional time to review the proposals. This perspective is critical because it implies that the SEC is not outright opposed to the idea of a spot Bitcoin ETF, but is cautious in its approach. Related Reading: Bitcoin ETF: SEC May Notify Approved Issuers To Launch Very Soon – Here’s When Balchunas commented, “I would say if we don’t see it in the next two weeks, it’s more because they need more time,” indicating that a delay in approval should not be interpreted as a final rejec ..
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