Bloomberg analyst Eric Balchunas, who previously gave a 90 percent chance that the spot Bitcoin ETF would be approved before January 10, says there is still a small chance that the Securities and Exchange Commission (SEC) will try to shut down the investment product ways. Could it be this? To delete of the decade according to Balchunas.
“If we don’t see the Bitcoin ETF spot in the next two weeks, it’s because they need more time,” Balchunas told Cointelegraph.
Are Bitcoin Prices Coming?
If the SEC decides to reject this, there is a good chance that the price of Bitcoin will take a huge hit. The market is currently extremely optimistic about the approval and seems to be fully committed to it.
In this regard, it would be a huge disappointment if the Spot Bitcoin ETF remains rejected and we have to wait even longer.
But there is still a good chance that we will get approval before January 10, says Balchunas. Why? The SEC is currently investing a lot of time in clarifying any issues in ETF filings that it does not yet agree with.
“Everyone worked very hard, especially during the holidays. “Sadistic would not cover the burden if the SEC continues to reject these rounds of spot Bitcoin ETFs,” Balchunas said.
5 percent chance of rejection
Vetle Lunde, analyst at crypto company K33 Research, estimates the chance of rejection by the SEC at 5%.
If the SEC decides to reject the ETFs, Balchunas expects the plaintiffs will follow in Grayscale’s footsteps and go to court in the United States.
After all, Grayscale has won its case against the SEC regarding the Spot Bitcoin ETF and there is a possibility that others will take the same path. After all, the chance of victory seems high.
For this reason, the chance that the SEC will choose to deny you is extremely low. Simply because they have almost no arguments to reject Bitcoin ETFs outright.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
