Expert Sees Chances Of ‘Full Wave’ Of Spot Bitcoin ETF Approvals Soon

With the US Securities and Exchange Commission (SEC) triggering a delay in taking a decision on Franklin Templeton’s proposed spot bitcoin Exchange Traded Fund (ETF), the onus is now on the next deadline. More importantly, the SEC gave the update on Franklin Templeton much earlier than its deadline of January 1, 2023. Does this mean a line up of spot Bitcoin ETF filings are being streamlined for mass approval?
Also Read: Coinbase Notifies Users About CFTC Subpoena in Bybit Case
Public Input Sought On Franklin Templeton Application
Earlier, CoinGape reported that the SEC called for public input on Franklin Templeton’s proposed spot ETF filing. In an order released on November 28, 2023, the agency said it was initiating proceedings to determine whether the proposed rule change to list Franklin Bitcoin ETF should be approved or disapproved. This comes in parallel with the delay in decision taking in all the other Bitcoin ETF filings including from the likes of Blackrock and Fidelity. However, Bloomberg analyst James Seyffart believes there is more to it than meets the eye, when it comes to the preponed update on Franklin Templeton filing.
Following the delay announcement on Franklin, the US SEC also delivered a similar update on the Hashdex ETF filing. The Commission instituted a public comment on the Hashdex Bitcoin Futures ETF filing.
Full Wave Of Spot Bitcoin ETF Decisions Coming Up?
According to James Seyffart, the SEC taking a super early decision on Franklin Templeton and Hashdex could mean the stage set for a full wave of approvals as early as in January 2024. He said,
“This delay on Hashdex all but confirms for me that this was likely a move to line every applicant up for potential approval by the Jan 10, 2024 deadline.”
However, he warned that approvals could potentially be given out without immediate launch. The Bloomberg analyst also flagged the possibility of the applications being denied before the January 10, 2024 deadline. On the other side, the crypto market turned more optimistic with reports on Blackrock representatives meeting with the US SEC officials on the spot ETF filing surfaced.
Also Read: Standard Chartered Maintains $100K Bitcoin (BTC) Target
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- Ethereum’s Vitalik Buterin Responds to Allegations of Excessive Control By ETH Inner Circle
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?