Summary
The chances of the US Securities and Exchange Commission (SEC) approving a spot bitcoin exchange-traded fund (ETF) in the coming week are estimated to be 90% by Bloomberg Intelligence analysts. However, not everyone is convinced. Markus Thielen, head of research for crypto platform Matrixport, believes that all spot bitcoin ETF applications fall short of a critical requirement, and SEC Chairman Gary Gensler still sees the industry in need of more stringent compliance. Other industry watchers have expressed doubts about the approval, suggesting that governments and regulators are looking for more time and ways to exert control over cryptocurrencies. However, some believe that approval is inevitable and that the SEC is running out of reasons to delay it.
Key Points
1. Bloomberg Intelligence analysts believe there is a 90% chance of approval for a spot bitcoin ETF in the coming week.
2. Markus Thielen, head of research for crypto platform Matrixport, believes that all current ETF applications “fall short of a critical requirement” and that SEC Chairman Gary Gensler sees the industry in need of more compliance.
3. Industry watchers continue to debate the fate of bitcoin ETFs, with some analysts believing that the SEC may delay approval or ask for the application to be refiled for more time. However, others, like Scott Johnsson of Van Buren Capital, are confident that approval will come between Jan. 8 and Jan. 10.