ETF analyst raises spot Bitcoin ETF approval chances in the US to 65%
The ETF analyst predicted that recent developments in the Ripple vs. SEC case and the upcoming Grayscale lawsuit would be crucial to the first spot Bitcoin ETF approval. The chances of approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States have now increased to 65% from a mere 1% just a couple of months ago. Bloomberg ETF analysts Eric Balchunas and James Seyffart said in a recent statement that the chances of approval for a Bitcoin ETF have increased significantly over the past month, owing to various new developments around the crypto market and the refiling of ETF applications by the likes of BlackRock. Seyffart noted that a lot will depend on the timing of the Grayscale case dates and their recent boost in approval will depend on Grayscale’s victory over the SEC in Federal court. He added that Grayscale’s win against the SEC could set trigger a series of simultaneous approval for all spit Bitcoin ETF filings by the end of the fourth quarter later this ...