Bitcoin ETF

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<p>The post <a href="https://coinpedia.org/news/wall-street-eyes-98-7-chance-of-bitcoin-etf-approval/">Experts Claim 98.7% Chance of Bitcoin ETF Approval; But Why is Wall Street Cautious?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the crypto space, everything or anything is possible; that’s why odds and predictions carry weight. Yet, when esteemed XRP Attorney John Deaton resonates with investor Mike Alfred’s forecast, suggesting an astonishing 98.7% chance of a spot Bitcoin ETF approval, ears perk up across the industry.</p> 
<p>What’s this all about? Read on! </p> 
<h2 class="wp-block-heading" id="h-unified-optimism">Unified Optimism</h2> 
<p>Representing 75,000 XRP holders, Deaton echoed Alfred’s confidence, citing recent amendments made by major players—BlackRock, Ark 21Shares, and WisdomTree—as the majority of them aligning their S-1 <a href="https://x.com/JSeyff/status/1736845294380163300?s=20">filings </a>with a cash redemptions model, signaling a potential breakthrough for the digital asset space.</p> 
<p>In a straightforward “Agreed” nod to Alfred’s prediction, Deaton, in his X post, <a href="https://x.com/JohnEDeaton1/status/1736921128071844059?s=20">added </a>weight to the mounting optimism. This alignment with industry projections emphasizes the impact of recent amendments, boosting the odds of a green light from the SEC.&nbsp;</p> 
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   <p lang="en" dir="ltr">Agreed <a href="https://t.co/GIf9EvNudp">https://t.co/GIf9EvNudp</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1736921128071844059?ref_src=twsrc%5Etfw">December 19, 2023</a>
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<h2 class="wp-block-heading" id="h-wall-street-remains-cautious">Wall Street Remains Cautious</h2> 
<p>While Alfred remains confidently bullish on approval before January 10, Wall Street appears cautiously optimistic, reflected in the undervalued January call options for Bitcoin miners. Bloomberg analysts have maintained a steady 90% likelihood for the past two months. Nonetheless, experts increasingly lean toward a green signal as the SEC’s critical decision day approaches. </p> 
<p>On the higher side, Trader Bob Loukas isn’t mincing words, expressing an unwavering 99.9% certainty in the ETF’s fate.</p> 
<h2 class="wp-block-heading" id="h-so-who-do-we-believe"><strong>So Who Do We Believe?&nbsp;</strong></h2> 
<p>This week is brimming with anticipation, especially with major players like Ark 21Shares, BlackRock, and WisdomTree diligently tweaking their S-1 filings to embrace cash creation models. While analysts James Seyffart and Scott Johnsson are cautiously skeptical about an immediate approval, Seyffart hints at a potential green light between January 8-10, given the SEC’s historical tendency to act just before deadlines, possibly including essential amendments.</p> 
<p>The crypto sphere braces for a defining moment, eagerly awaiting the SEC’s call on Bitcoin ETFs. If approved, this could herald a game-changing transformation in the realm of digital assets. At the same time, if denied, this could be worse than earlier crypto crashes, as predicted by experts.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-we-re-praying-for-a-miracle">We’re Praying for a Miracle! </h2> 
<p>As prices of key cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP fell, the crypto market cap fell 2.58% to $1.56 trillion in 24 hours. It will be interesting to see the ETF charm rolling in January. BTC is struggling to maintain the critical level of $42K and is expected to fall by $40K in the coming days as a mark of a short-term correction. Is it a good or bad sign? Tell us.</p>

Experts Claim 98.7% Chance of Bitcoin ETF Approval; But Why is Wall Street Cautious?

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