Bitcoin ETF

Bitcoin

Traders taking bets on the platform predict a 90% chance the SEC will approve spot Bitcoin ETFs by mid-January, while the minority is hedging against the converse outcome. 
Shares of a “Bitcoin ETF approved by Jan 15” contract on Polymarket, a decentralized prediction venue, traded for 90 cents as speculation for a forthcoming decision from the U.S. Securities and Exchange Commission (SEC) dominated market sentiment.&nbsp; 
At press time, the <a href="https://polymarket.com/event/bitcoin-etf-approved-by-jan-15?tid=1704204991699" target="_blank" rel="noreferrer noopener">contract</a> had attracted $441,315 worth of “YES” bets, with just 10% of traders choosing “NO”. These investors also admitted their opposing choice was a means to hedge their bets and turn a profit should the SEC delay beyond Jan. 15. 
<blockquote class="wp-block-quote"> 
 I don’t doubt the inevitability of a Bitcoin ETF, I doubt the SEC’s ability to work fast enough to say yes by Jan. 15. <cite>Polymarket trader</cite>
</blockquote> 
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 <img loading="lazy" decoding="async" width="1024" height="407" src="https://crypto.news/app/uploads/2024/01/Screenshot-141-1024x407.png" alt="spot Bitcoin ETF" class="wp-image-14233536">
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 Bettors bid on an SEC decision on spot BTC ETFs by Jan. 15 | Source: Polymarket
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 You might also like: <a href="https://crypto.news/vaneck-spot-bitcoin-etf-launch-will-not-impact-btc-price/"> VanEck: spot Bitcoin ETF launch will not impact BTC price </a> 
Reuters reported that the SEC could announce approvals as early as Jan. 3 for the 14 issuers to list their products in the coming weeks. However, Fox journalist Eleanor Terrett <a href="https://crypto.news/expert-predicts-spot-bitcoin-etfs-will-not-get-approved-this-week/" target="_blank" rel="noreferrer noopener">said</a> this is highly unlikely due to ongoing reviews of updated S-1 filings from firms like <a href="https://crypto.news/hashdex-submits-new-s-1-for-bitcoin-etf-attempting-cash-only-applications/">Hashdex</a> and VanEck. 
Although no one knows when the SEC will decide on spot Bitcoin ETFs, experts and crypto proponents fancy the chances of a Jan. 10 outcome. This date coincides with the deadline for a joint submitted by ARK 21Shares. 
Cathie Wood, Ark Invest CEO, also <a href="https://crypto.news/cathie-wood-hints-at-spot-bitcoin-etf-approval-date/" target="_blank" rel="noreferrer noopener">foresees</a> a decision by this date. Wood believes an approval would endorse Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) and cryptocurrencies through Wall Street, a sentiment <a href="https://crypto.news/michael-saylor-spot-bitcoin-etfs-a-game-changer/" target="_blank" rel="noreferrer noopener">shared</a> by MicroStrategy founder and BTC maxi Michael Saylor. 
 Read more: <a href="https://crypto.news/sec-may-approve-bitcoin-etf-for-imminent-launch-when/"> SEC may approve Bitcoin ETF for imminent launch: Here’s when </a>

Polymarket investors confident of spot Bitcoin ETF nod by Jan. 15

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