With anticipation heating up over the eventual ruling, the US Securities and Exchange Commission (SEC) Spot Bitcoin ETF approval window is set to be between January 5th and 10th. Indeed, Bloomberg’s James Seyffart confirmed the dates, and when we could hear a decision from the agency.
There remain more than a dozen Spot Bitcoin ETF applications for the regulatory agency to formulate a decision on. Subsequently, Seyffart confirmed that approval orders are likely to take place during the latter stages of that window. Specifically, he predicted them to take place between January 8th to the 10th.
Also Read: Bitcoin: Standard Chartered Says ETF to Bring 165% Gain in 2024
SEC’s Approval Window for Spot Bitcoin ETF Begins in Early January
For the last several months, the digital asset industry has speculated about the potential arrival of a Spot Bitcoin ETF. An impending approval would be the first of its kind in the United States and could propel the digital asset to even further heights. Now, the time frame for the decision on those applications has been made much clearer.
Bloomberg’s James Seyffart has reported that the SEC Spot Bitcoin ETF approval window is set to arrive between January 5th and 10th. Moreover, a decision for more than 12 applications will likely have a decision be granted by the agency within this time frame. Any approval is likely to begin on January 8th, Seyffart added.
Also Read: SEC Clears Regulatory Runway for Bitcoin’s ETF
To this point, the SEC has consistently delayed its decision regarding the Bitcoin product. However, many expect that to change in the early months of 2024. Specifically, many have predicted that a decision on many of them could come within January. Therefore, it falls in line with the reported approval window.
Bitcoin has certainly benefited from the speculation, as it officially surpassed the $38.8K mark for the first time since 2022. Moreover, Standard Chartered predicted that the approval of an ETF would lead to more than 160% gains. Ultimately catapulting the asset to its forecasted $100,000 price at the end of 2024.