As the cryptocurrency market continues its upward trajectory, the fervor surrounding potential approvals for Bitcoin spot exchange-traded funds (ETFs) in 2023 has surged. The U.S. Securities and Exchange Commission (SEC) has shown signs of a more lenient stance, particularly as major applicants like BlackRock (NYSE: BLK), Fidelity, Ark Invest, and VanEck have made notable amendments to their applications. Experts in the field of Exchange-Traded Funds at Bloomberg perceive these alterations as a promising indicator for the approval of Bitcoin ETFs.
Notably, financial lawyer Scott Johnsson took to the social media platform X (formerly Twitter) on Tuesday to speculate about the possibility of SEC approval for a Bitcoin spot ETF by November 2, 2023. In his analysis, he drew parallels with the prior BITO approval, which followed a similarly undisclosed SEC meeting, and the successful bid for a spot Bitcoin ETF by Grayscale subsequent to a U.S. Court of Appeals decision.
Despite the growing anticipation, Johnsson was quick to underline the uncertainty surrounding any potential announcement on the specified date. Nevertheless, his post has sparked widespread discussions concerning the potential approval of Bitcoin ETFs in the forthcoming year. These recent developments indicate that the landscape of cryptocurrency investments may undergo significant transformations in the near future.
