NewsletterOdds Of Spot Bitcoin ETF Approval At 98.7%, XRP Attorney John Deaton Agrees
John E. Deaton, an attorney representing 75,000 XRP holders, reacted to valued investor and advisor Mike Alfred anticipating a 98.7% odds of a spot Bitcoin ETF approval. Other experts are also expecting higher odds of spot Bitcoin ETF approval as BlackRock, Ark 21Shares, and WisdomTree amend form S1 to include a cash redemptions model.
XRP Attorney John Deaton On Spot Bitcoin ETF Approval Odds
Pro-XRP lawyer John E. Deaton reacted to Mike Alfred’s post on X saying “Agreed.” Deaton also believes in higher odds of spot Bitcoin ETF approval due to constructive talks between the SEC and Bitcoin ETF issuers, and recent amendments to spot Bitcoin ETF filings.
Mike Alfred said spot Bitcoin ETF has a 98.7% chance of approval before January 10. However, there seems to be no excitement on Wall Street as January call options for many BTC miners are undervalued.
Bloomberg analysts have kept the odds of spot Bitcoin ETF approval at 90% for over two months. As the January 10 deadline for the SEC’s decision on spot Bitcoin ETF looms, experts pointed out higher odds chances of a spot Bitcoin ETF.
“The level of SEC engagement and back/forth/changes on the ETF tells us this is a 99.9% done deal,” says trader and investor Bob Loukas.
Also Read: Cathie Wood’s Ark Invest Sells $28M GBTC As ETF Approval Nears, Buys Jack Dorsey’s SQ
Spot Bitcoin ETF Approval This Week
There is also anticipation of approval coming this week as Ark 21Shares, BlackRock, and WisdomTree abided with the SEC’s request and updated their S-1 for cash creates.
Bloomberg analyst James Seyffart and finance lawyer Scott Johnsson reacted, saying “Not impossible but unlikely imo. SEC historically has waited until the last day or two before the deadline to issue order; I think we’re likely to see 19b-4 amendments to reflect cash model; and we have issuers in a comment period.” Seyffart also agreed with a Jan 8-10 approval.
Also Read: 7RCC Files First ESG-Focused Spot Bitcoin ETF With Gemini As Custodian
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Bitcoin Gains State Adoption as Texas Becomes First U.S. State to Purchase BTC
- Rate Cut Advocate Kevin Hassett Emerges as Trump’s Top Pick For Fed Chair
- Breaking: Crypto Platform Polymarket To Operate As A U.S. Exchange as CFTC Issues Key Order
- SEC Panel to Discuss Regulatory Changes for Tokenized Equities on Dec. 4
- December Fed Rate Cut Odds Surge To 85% Following PPI Release
- Chainlink Price Could Soar to $15 as ETF Listing Nears
- Will Cardano Price Rebound as Hoskinson Hints at a TVL Surge After Midnight Launch?
- Ethereum Price Holds $2,900 Amid Massive ETF Inflows and BlackRock Purchase
- Sui Price Surges 12%: Could This Mark the Start of a Bullish Trend?
- Is Bitcoin Price Set for Major Recovery as December Rate Cut Chances Hit 80.9%?
- Solana Price Jumps as Bitwise ETF Sees Record $39.5M Inflow: Targeting $150 Next?
