Bloomberg's Analysts Boost Probability of Bitcoin ETF Approval After Grayscale Triumph
Summary:
Bloomberg analysts raise probability of approved Bitcoin ETF following Grayscale victory, citing unanimous court ruling and SEC's limited room for denial. Likelihood estimated at 75% by end of 2023 and 95% by Q4 2024. Multiple Bitcoin spot ETF applications due for decision by SEC. Approval anticipated as SEC denial would be politically untenable.
Bloomberg analysts have increased the likelihood of an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following a recent victory by Grayscale against the federal securities regulator. According to Bloomberg senior ETF analyst Eric Balchunas, the chances have been raised to 75% from the previous estimate of 65% due to the unanimous and decisive ruling by the United States Court of Appeals Circuit. Experts James Seyffart and Elliot Stein also noted that the SEC will struggle to deny further ETF applications.
Published At
8/31/2023 12:11:13 AM
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