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<p>The post <a href="https://coinpedia.org/news/anthony-scaramucci-speculates-bitcoin-etf-approval-by-next-week/" rel="noopener noreferrer nofollow">Anthony Scaramucci Speculates Bitcoin ETF Approval by Next Week</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In an insightful speculation, renowned financial analyst Anthony Scaramucci suggests that the cash-based Bitcoin Exchange-Traded Fund (ETF) approval could be just around the corner.</p>
<h2 class="wp-block-heading" id="h-the-shift-in-sec-s-stance"><strong>The Shift in SEC’s Stance</strong></h2>
<p>According to Scaramucci, this significant development in the cryptocurrency sphere might be announced as early as next week, a strategic move to coincide with the holiday season and, thus, potentially, fly under the radar.</p>
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   <p lang="en" dir="ltr">Just a theory: and don’t be surprised if it happens, but it feels like the bitcoin cash ETF could be approved next week. It’s a holiday week and it’s also a way to bury the news when people aren’t paying attention. Classic news dump. Market isn’t expecting it. Be ready.</p>— Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1738006384871092645?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 22, 2023</a>
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<p>The journey to launching Bitcoin ETFs in the United States has been a long and winding road, with expectations set for a mid-to-late January 2024 debut. However, the real intrigue lies in the operational framework of these ETFs, especially given the U.S. Securities and Exchange Commission’s (SEC) insistence on a cash-only transaction process. This requirement from the SEC deviates from the traditional in-kind redemption method and is perceived as adding unnecessary complexity and potential costs for retail investors.</p>
<p>The change is partly driven by recent legal challenges that questioned the extent of the SEC’s authority over digital assets. The resolution of the final obstacle – choosing between “cash only” and “in-kind” transactions – has seen all ETF providers aligning with the SEC’s preference for a cash-only approach.</p>
<h2 class="wp-block-heading" id="h-strategies-and-expectations"><strong>Strategies and Expectations</strong></h2>
<p>As the market braces for the SEC’s approval, QCP Capital has shared insights into Bitcoin’s potential market movements. The firm anticipates that Bitcoin could face resistance in the $45,000 to $50,000 price range, with a possible temporary drop to around 36k, before resuming its upward trajectory.</p>
<p>Amidst this volatility, they suggest that existing Bitcoin investors might consider selling covered calls to leverage the heightened market forwards and volatilities. Additionally, buying out-of-the-money puts could be a strategic move to navigate the potential post-ETF dip.</p>
<p>QCP Capital remains optimistic about the long-term trend for Bitcoin, especially leading into the anticipated Bitcoin halving event. Bitcoin has seen a 1.5% increase in the past twenty-four hours at press time, reaching $44,423. Scaramucci’s theory, combined with the market analysis from QCP Capital, paints a picture of a crypto market at the cusp of a significant change as we head into a new year.</p>

Anthony Scaramucci Speculates Bitcoin ETF Approval by Next Week

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