Analyst: Starting January 5, the SEC will open a decision window on the spot Bitcoin ETF

The next approval window for the first-ever US spot Bitcoin ETF will be set between January 5th and 10th.

This opinion expressed Bloomberg analyst James Seyffarth. Previously, he and his colleague said that the new tool would be approved by November 17.

What are the reasons this time

Today, the US Securities and Exchange Commission (SEC) should finally say until when it has postponed consideration of applications from Hashdex and Franklin Templeton. Let us remind you that the regulator postponed them on November 29, since the collection of opinions began.

Seyffart expects the deadline for the companies mentioned to be set between January 5 and January 8. This will open a five-day window in which the SEC can approve all 12 applications to launch BTC spot ETFs.

This coincides with the date that Seyffart and his colleague Eric Balchuans predicted back in early October – January 10th. Bloomberg analysts believe 90% in this outcome.

Let us remember that a day earlier, another market player, the Swiss asset manager Pando Asset, joined the race for a spot Bitcoin ETF. If approved, the Pando Asset Spot Bitcoin Trust will be listed on the Chicago Board Options Exchange (CBOE).

ETF will bring many billions to the Bitcoin market

Many analysts believe that the launch of a new instrument in the United States will send the rate of the first cryptocurrency up, and will also significantly enrich the crypto market as a whole. Thus, experts from Glassnode suggest that in a favorable scenario, more than $70 billion will be poured into BTC. According to their estimates, capital will flow from two sources: stocks and gold.

Galaxy Digital experts share a similar opinion. According to their calculations, in the first year of its existence, the spot Bitcoin ETF could absorb $14.4 billion. A month after the launch, the value of BTC will increase by 6.2%.

Bloomberg Intellegence analysts expect that over time the market for the new instrument will grow to $100 billion. Pantera Capital also believes in the positive consequences for the industry from the launch of a spot ETF on BTC.