Bitcoin has risen above $36,000 and is currently targeting $37,000 as Bloomberg analysts Eric Balchunas and James Seyffart have revived hopes that a Spot Bitcoin ETF could be approved this year. The analysts maintain their belief of a 90% chance that any of these funds get approved by January 2024. An Approval Order “Could” Occur This November In a post shared on his X (formerly Twitter) platform, Seyffart highlighted a new research note that he and Balchunas had just worked on. From their research, they noted that there is a “brief window” that allows the US Securities and Exchange Commission (SEC) to approve all 12 Spot Bitcoin ETF applications at once. Related Reading: Ethereum Failed Transactions: You Won’t Believe How Much Users Have Lost This brief window (which opens up on November 9) will last for at least eight days, before which it is almost possible for the SEC to approve all applications at once until next year. The reason for their assertion is that the SEC cannot approve an application that is in the comment stage. It so happens that the com ..
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