Overnight speculation about the approval of a Bitcoin ETF has reached a fever pitch, with various crypto experts and analysts sharing their opinions. The closest deadline for approval is January 10, which is when the SEC will decide on Ark Invest’s application. If Ark’s application is approved, it is likely that other applications will also be given the green light to avoid any appearance of favoritism.
On Twitter, discussions and predictions about the imminent approval of a spot Bitcoin exchange-traded fund are rampant. Some believe that approval is certain, while others are more cautious. Even online bettors are placing their bets on the outcome.
Speculation surrounding spot Bitcoin ETFs has escalated in anticipation of the January 10 deadline for Ark Invest’s application. If approved, it is expected that the SEC will also approve other pending applications to maintain fairness. Anthony Scaramucci, CEO of SkyBridge Capital and former White House director of communications, has expressed optimism about the approval.
Online bettors are also optimistic, with a significant stake on Polymarket indicating a high probability of approval by January 15. However, a Bitwise survey showed that not all financial advisers are as confident, with less than half expecting a spot Bitcoin ETF in 2024.
Despite differing opinions, the general sentiment is that a spot Bitcoin ETF approval is imminent. Market movements reflect this anticipation, with Bitcoin and Ethereum seeing positive gains. Solana’s SOL token has also experienced significant growth.
Overall, the crypto community is eagerly awaiting the outcome of the SEC’s decision on the Bitcoin ETF approval.