BlackRock Meets With SEC Yet Again: US Spot Bitcoin ETF Approval Now In Sight?

Investment powerhouse Blackrock has recently met with the US Securities and Exchange Commission (SEC) for the third time in just a week. This series of meetings suggests that the approval of the first-ever spot Bitcoin ETF in the US might be on the horizon. With the SEC’s decision deadline set for January 8-10, the industry is keenly awaiting the outcome, especially regarding Blackrock’s iShares Bitcoin Trust.

Also Read: Cash or Kind? BlackRock’s Proposed IBIT for Spot Bitcoin ETFs Causes Debate

Expert Views: What’s SEC Going to Do Next?

The industry is buzzing with varied opinions about the SEC’s forthcoming decision. Michael Saylor, the force behind MicroStrategy, is bullish, foreseeing a significant uptick in Bitcoin demand upon approval. Similarly, entrepreneur Mike Alfred gives a high probability, at 98.7%, of the Bitcoin ETF receiving approval before January 10. Michael Novogratz, CEO of Galaxy Digital, also shares this optimism, firmly believing in a positive outcome before the deadline.

All Hail a New Era for Crypto

If Blackrock’s iShares Bitcoin Trust gains approval, it could mark a pivotal moment for the crypto market. Already, the mere speculation of approval has bolstered Bitcoin’s market value. However, analysts caution that the influx of institutional capital might introduce short-term volatility, as investors navigate potential opportunities and risks.

Read More: Top 3 Reasons Why SEC Might Be About to Approve Spot Bitcoin ETFs

In conclusion, the possible approval of a Spot Bitcoin ETF has become a focal point in the crypto industry. Amidst a flurry of speculations and heightened investor interest, January 10 is circled on many calendars. As the industry awaits the SEC’s decision, the consensus is one of cautious optimism, with hopes running high for a landmark development in the coming days.

Is the crypto revolution about to begin? Let us know your predictions for the industry’s future.