<p>The wait is over for the crypto sphere: the approval of Bitcoin ETFs (and this time, it’s serious). Eric Balchunas shared this great news on his X account (Twitter) an hour ago. We are now awaiting the official SEC announcement.</p> 
<h2 id="h-bitcoin-spot-etf-approvals-appointment-for-10-pm">Bitcoin spot ETF approvals: appointment for 10 PM!</h2> 
<p>In a context of confusion following the false announcement on the X account of the SEC, great news is emerging. Indeed, <strong>the approvals of the <a href="https://www.cointribune.com/en/bitcoin-and-fake-etf-approval-what-really-happened/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> are imminent</strong>, and the <strong>official announcement is expected later in the day</strong>.</p>
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<p>It is Eric Balchunas, senior ETF analyst at Bloomberg, who <a href="https://twitter.com/EricBalchunas/status/1745059713224454248" target="_blank" rel="noreferrer noopener">announces on his X account</a> (Twitter).</p> 
<p class="has-text-align-center">“<em>Happy ETF approval day (for real this time) to everyone celebrating. As far as we know, it’s ALL SYSTEMS GO.</em>“</p> 
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     <p lang="en" dir="ltr">Happy ETF Approval Day (for real this time) to all those who celebrate.. as far as we know it's ALL SYSTEMS GO. Most likely is we see formal approvals ballpark 4-6pm today with the Derby starting on Thursday. We are ready at Bloomberg, getting DES pages up as we speak. <a href="https://t.co/sh8aoYypdg">pic.twitter.com/sh8aoYypdg</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1745059713224454248?ref_src=twsrc%5Etfw">January 10, 2024</a>
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<p>According to him, the <strong>formal approvals</strong> of Bitcoin ETFs will be announced between 4 PM and 6 PM (New Jersey time) today, which is <strong>between 10 PM and midnight, France time</strong>.</p> 
<h2 id="the-futures-open-interest-on-btc-reaches-a-peak-on-the-cme">The Futures Open Interest on BTC reaches a peak on the CME</h2> 
<p>With this <strong>imminent approval of spot Bitcoin ETFs</strong>, there is also a growing presence of institutional investors in the derivatives sector. Indeed, according to <a href="https://twitter.com/glassnode/status/1745076908063158438" target="_blank" rel="noreferrer noopener">data from Glassnode</a>, <strong>Bitcoin Futures Open Interest on the CME has reached a peak of 36%</strong> in relative dominance.</p> 
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  <img decoding="async" width="1024" height="590" src="https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-1024x590.jpg" alt="Bitcoin - chart showing the evolution of Futures Open Interest on BTC on the CME exchange" class="wp-image-662771" srcset="https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-1024x590.jpg 1024w, https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-300x173.jpg 300w, https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-768x442.jpg 768w, https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-1536x885.jpg 1536w, https://www.cointribune.com/app/uploads/2024/01/bitcoin-open-interest-scaled.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>On the Glassnode chart, the Open Interest on Bitcoin futures contracts of the Chicago exchange is currently at <strong>$6.34 billion</strong>.</p> 
<p>This suggests that institutional investors are heavily engaged in trading Bitcoin futures on the CME. The leading crypto market could thus <strong>receive significant capital inflows</strong>. Moreover, an analysis estimates that cash-settled Bitcoin ETFs could <a href="https://www.cointribune.com/en/bitcoin-etfs-could-attract-100-billion-in-inflows-by-2024/" target="_blank" rel="noreferrer noopener">attract up to $100 billion in inflows by 2024</a>.</p>  
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<p>Of course, the Bitcoin market is expected to experience repercussions. This includes changes in terms of <strong>liquidity and volatility, as well as an increase in interest from institutional investors</strong>. For the moment, the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noreferrer noopener">BTC price</a> on Binance stabilizes around $45,150, with a variation of -2.2% on the day.</p>

ETF Bitcoin: it’s a green light! Imminent official announcement!

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