The anticipation surrounding the approval of Bitcoin exchange-traded funds (ETFs) in the United States has reached a fever pitch as reports from FOX Business suggest that pending applications might see regulatory clearance by the end of the week. However, conflicting insights from various sources have left the crypto market on edge, uncertain of the imminent outcome.
Eleanor Terrett, a prominent journalist and producer, provided a cautious perspective on the likelihood of immediate approvals. She highlighted the complexity of the SEC’s review process, indicating that despite the possibility of approvals occurring by the end of the week, an approval as early as January 2 or 3 appeared challenging based on her discussions with industry insiders.
Terrett’s insights were further substantiated by comments from Charles Gasparino, a FOX correspondent, who shed light on the absence of updates received by BlackRock, one of the applicants. The reported “radio silence” from the SEC to BlackRock raises questions about the timeline for potential approvals.
This conflicting information counters earlier reports from December 29, which hinted at the SEC potentially informing applicants of approval by early January. However, Terrett’s recent statements paint a more measured picture, indicating that the SEC’s extensive review process might delay the announcements until later in the week.
The impending decision regarding applications from Ark Invest and 21Shares, set for January 10, adds another layer of intrigue to the unfolding narrative. While not legally obligated to approve these applications by the deadline, the consensus among experts leans toward an expectation of approvals for these and similar funds.
The rollercoaster of expectations and speculation within the crypto space intensifies as investors, enthusiasts, and industry players brace for potential regulatory breakthroughs in the coming days. The market eagerly awaits signals from the SEC, with the fate of these ETFs poised to significantly impact the trajectory of Bitcoin and the broader cryptocurrency landscape.
Source: https://azcoinnews.com/fox-business-forecasts-potential-approval-for-pending-spot-bitcoin-etfs-by-weeks-end.html
