Bitcoin

Spot

James

Bloomberg ETF analyst Eric Balchunas recently announced that the probability of the Bitcoin spot ETF failing has dropped from 10% to just 5%.
Reasons for potential failure could include the SEC filing new challenges, ignoring court orders, or intervention by the Biden administration. However, the ETF is expected to be approved next week.
<h2 id="what-are-the-bitcoin-spot-etfs-disapproval-scenarios">What are the Bitcoin Spot ETFs Disapproval Scenarios?</h2>
Bloomberg Analyst James Seyffart offered three possible scenarios in response to a follower's question about the consequences of the previously mentioned 10% probability of failure for BTC spot ETFs:
<ul>
 <li>Ark Invest withdraws with reassurance regarding March: While this scenario is possible, it is considered unlikely.</li>
 <li>Gary Gensler overstates the issue and the SEC refuses to advance new grounds or ignores the court: This causes the matter to go back to court. However, this outcome does not seem likely.</li>
 <li>The Biden administration intervenes to stop the process: This is another unlikely scenario.</li>
</ul>
Related News: <a href="https://en.bitcoinsistemi.com/1-million-dollars-of-btc-sent-to-satoshi-nakamotos-bitcoin-wallet-from-binance-has-satoshi-woken-up/" target="_blank" rel="noopener noreferrer nofollow">1 Million Dollars of BTC Sent to Satoshi Nakamoto's Bitcoin Wallet from Binance: Has Satoshi Woken Up?</a>
Balchunas agreed with Seyffart's assessment, but suggested that the probability of failure at this point might be closer to 5%. He said it's important to keep a small window open for such possibilities.
It is known that BlackRock executives are expecting an approval for Bitcoin Spot ETFs on Wednesday next week.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bloomberg-analysts-update-odds-of-bitcoin-spot-etf-approval/" rel="noopener noreferrer nofollow">Bloomberg Analysts Update Odds of Bitcoin Spot ETF Approval</a>

Bloomberg Analysts Update Odds of Bitcoin Spot ETF Approval

Table of Contents

Bitcoin Sistemi EN

Other articles published on Jan 7, 2024

Cipia’s Driver Sense System Expands Global Footprint

JPMorgan predicts China’s yuan dethroning the US’s dollar

The AI Adoption in UK Businesses Assured Growth in FY 2024

Another Hack Hits CoinsPaid, $7.5 Million Lost in Second Breach in Six Months

A Beginner’s Guide to Crypto Token: How to create your own token and monetize it.

HEX Crypto: Could HEX Price Break the Downtrend & Rise?

Join our free newsletter for daily crypto updates!