Analysts at Bloomberg Intelligence have raised their estimates for the approval and launch of at least one spot Bitcoin (BTC) exchange-traded fund (ETF) in the U.S. this year to 65%. “The odds of a spot Bitcoin ETF launching this year are up to 65%, in our eyes, after a flurry of developments,” analysts James Seyffart and Eric Balchunas wrote. Several major institutions, including BlackRock, Fidelity, WisdomTree, and Valkyrie, have filed applications for a spot Bitcoin ETF to make investing in Bitcoin more accessible. SEC Chairman Gary Gensler downplayed his role at the agency in a recent interview with Bloomberg, emphasizing that there are four other commissioners. This could be a signal that aspects of the anti-crypto stance are becoming politically untenable for Gensler. The SEC’s seeming approval of Coinbase’s Bitcoin trading platform, with CEO Brian Armstrong being told to delist all cryptocurrencies except Bitcoin, also contributes to the more optimistic outlook. Lastly, the SEC’s case against crypto asset manager Grayscale could be a catalyst if the SEC loses in court.
65% Chance of Spot Bitcoin ETF Approval and Launch in US This Year
