Bloomberg ETF analysts James Seyffart and Eric Balchunas posted a research note on Nov. 8 suggesting that an upcoming 8-day window opening on Nov. 9 may see approvals from the SEC for several proposed spot Bitcoin ETFs. That tweet reads: “New Research note from me today. We still...
“New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earlier we are entering a window where a wave of approval orders for all the current applicants *COULD* occur.”
Seyffat commented further on the note on Twitter, stating that the current window for all 12 applications ends on Nov. 17. However, he said that the SEC could decide on nine of the 12 ETF applications over the next two months.
No guarantee
The fact that an approval window has opened does not guarantee that the U.S. Securities and Exchange Commission (SEC) will approve the pending applications. The agency has not stated that it will approve the applications.
Optimism around pending applications comes from several factors, including that the SEC requested comments on various proposals beginning in late September. Seyffarts’ note observed that several applicants received delay notices that placed the end of the comment period today, Nov. 8, opening up the collective approval period.