Bloomberg analyst James Seyffart has predicted that the first spot Bitcoin ETFs will be approved by the US Securities and Exchange Commission (SEC) around January 8-10.
This comes after the SEC strategically delayed applications for the instrument in order to approve them all at the same time, rather than giving an advantage to one issuer.
Seyffart believes that this strategy will lead to a mass approval of requests in January.
Seyffart also referenced the SEC’s recent loss to Grayscale in court in August as another factor that strengthens the case for a Bitcoin ETF approval.
He believes that the Commission was pressured by the court’s decision.
