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The post <a href="https://coinpedia.org/news/bloomberg-analyst-warns-of-a-potential-pullback-after-bitcoin-etfs-approval/">Bloomberg Analyst Warns of a Potential Pullback After Bitcoin ETFS Approval</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Bloomberg analyst James Seyffart has opened up about the unfolding events surrounding the potential approval of a Bitcoin ETF. Seyffart reflected on the unpredictability of the situation, talking about the initial skepticism they faced when making earlier predictions about Gary Gensler’s approval. 
<a href="https://www.youtube.com/watch?v=nBCVV8p4uL4">Discussing the $10 million</a> seeding from BlackRock, Seyffart said that people might be overly fixated on this aspect. He explained BlackRock’s past strategy of initially seeding with a smaller amount and later injecting more significant sums after the ETF launch. 
Regarding the timing of ETF trading, Seyffart speculated that it could commence around the week of Martin Luther King Jr. Day, with approval anticipated between January 8th and 10th. 
The conversation also explored into the intricacies of ETF approvals, stressing the need for both 19 B4 approval and S1 approval from the SEC before the ETFs can be listed. Seyffart explained that the process might not take as long as some predict, with trading possibly beginning within 24 hours of S1 approval. 
As the discussion turned to the crypto community’s interest in ETF details, Seyffart acknowledged that the level of engagement is unique to this situation. He attributed it to the convergence of factors like government decisions, significant deadlines, and the involvement of major asset managers. 
Seyffart addressed concerns about a potential market pullback post-approval, drawing parallels with the gold ETF launch in 2003. However, he spoke about the differences, noting that Bitcoin has existing avenues for investment, unlike gold at the time. 
In response to questions about Bitcoin’s price action, Seyffart refrained from providing a specific forecast but acknowledged the potential for increased institutional participation due to ETFs. He warned against expecting an immediate influx of institutional funds but anticipated a broader impact over the long term.

Bloomberg Analyst Warns of a Potential Pullback After Bitcoin ETFS Approval

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