Expert predicts spot Bitcoin ETFs will not get approved this week

2024-01-01 23:46:32

Fox Business reporter Eleanor Terrett said approval of a spot Bitcoin ETF in early January is unlikely.

In an X post, Fox journalist Eleanor Terrett noted that the Securities and Exchange Commission (SEC) still needs to review changes to the S-1 filings for spot Bitcoin ETFs.

She said the SEC will likely notify issuers of a final Form S-1 filing date following this round of review, practical within the next 24 to 48 hours, similar to the approval schedule for Ethereum (ETH) futures ETFs last October.

“SEC staff has been off since Friday, so a Tuesday or Wednesday approval seems tight. But we shall see! Regardless, the next two weeks will be exciting.”

Eleanor Terrett, Fox Business reporter

Many analysts expect approval of spot Bitcoin ETFs in early January. Companies such as Valkyrie, Fidelity Investments, ARK Invest, Grayscale, WisdomTree, and Invesco are also awaiting approval from the SEC. Bitcoin ETF issuers have already progressed to crucial details in negotiations with the SEC. The regulator’s deadline for deciding on Bitcoin ETFs applications is January.

As the deadline for applications approached, the price of BTC responded with growth breaking through the $45,000 level, a 21-month-high not seen in early April 2022.

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