Bitcoin ETF

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 <p class="paragraph">The cryptocurrency market anticipates a potential bull market triggered by events such as Bitcoin halving and the <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> of a spot Bitcoin ETF next year.&nbsp;&nbsp;</p>
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 <p class="paragraph">Eric Balchunas, senior ETF <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> for Bloomberg, suggested in an X post on November 29 that Bloomberg is maintaining their stance on the 90% probability of <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> by January 10, which has been their position for months, even before it gained popularity and became widely accepted.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“People asking me if we changed odds. No, we still holding line at 90% odds of <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe). What we watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates.”</p> <cite>posted Balchunas</cite>
 </blockquote>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/VB6dtXISMjFQj1KSKIKqele5of9FaqWyvnqL6O6jfNT8wFCCK2-DzDoNKXpW2BdI_8GZ2wP-6FUCUCZTjbpmsGuXXDcRIMOysyypFt7sQmyEYeNZ1PoCEMWIir2mLB2WsuTFJq-JCqx6poH3AT1XCcaHY8juaE_LLMvAE8wwf6KWrfnTPowuTbjO1g6c5A" alt>
  <figcaption class="wp-element-caption"><em>Eric Balchunas X post. Source: X</em>
  </figcaption>
 </figure>
 <p class="paragraph">Despite a recent slowdown in its upward momentum, Bitcoin (BTC) continues to maintain a position above the significant psychological threshold of $37,000. Several indicators point towards a robust likelihood that the crypto asset might not drop below $35,000 mark again, and the approval of the ETFs is one of them.</p>
 <h2 class="wp-block-heading" id="h-the-chance-of-rejection-is-slim"><strong>The chance of rejection is slim</strong></h2>
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 <p class="paragraph">When asked in the comments about the possibility of all ETFs being rejected, Balchunas said: “Long shot.”&nbsp;</p>
 <p class="paragraph">He emphasized the extensive involvement of numerous people working on the ETFs, suggesting that the denial is unlikely.&nbsp;</p>
 <figure class="wp-block-image is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/3VA4qDd__J1MYPlzKYFvwnLpmo82d8DFnRlzz4jIPfnWw0CogAZrKeRRUWD-fPVfVvfrp61MBg0Bd3XSM-zJ9gJeIP6rXqofsoIMUwFxdIQkUXW-hUNkIKCThLcBh77gQinl1Bm1PewSB-OwxvKF5vtYWUxaT9vN7YwQODsjOvfYDgvoclb2YSKootUFvA" alt width="839" height="359">
  <figcaption class="wp-element-caption">
   Comment on the initial X post by Eric Balchunas. Source: X
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 </figure>
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a>’s implication is that <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> appears inevitable, and the key consideration shifts from whether it will happen to when it will occur.</p>
 <p class="paragraph">“But the important thing that gets lost in the debates over exact dates and comments and timeline is the SEC and issuers are working hard behind the scenes to get these ETFs ready to go THIS CYCLE,” he added in the comments.</p>
 <p class="paragraph"><em>Fifty Pawlow, </em>another markets and crypto analyst, shared his concerns about Bloomberg being wrong about their assumptions this year yet doubling down on the 90% prediction.&nbsp;</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/3vf2jNtjridFdAdoXTiS7n4gB7WpMzIywq_2_o_2qrwNNZr-tPWYskYLq8A5ul6mlF-QYeRN7HpFkhEYA4kc4ryk9puOA2T8LFHik6Nw8dRj21Sx3oMJQp344Tr7PIBiWBnecKFN0IB1cP2L5HRlmgqmlsyeDtBW3OLlQIj1AjAwOUwu7xLGMveI6ICBkA" alt>
  <figcaption class="wp-element-caption">
   Comment on the initial X post by Eric Balchunas. Source: X
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 </figure>
 <p class="paragraph">His comment was written an hour after the senior ETF analyst’s post went live, but it was not addressed at the time of writing.</p>
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 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bloomberg-analyst-reaffirms-90-chance-of-bitcoin-etf-approval-in-january-tbt72075.html">https://thebittimes.com/bloomberg-analyst-reaffirms-90-chance-of-bitcoin-etf-approval-in-january-tbt72075.html</a></p>

Bloomberg analyst reaffirms 90% chance of Bitcoin ETF approval in January

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