Investment bank experts believe that there is “a 90% chance that Bitcoin ETFs will be approved in early January.” According to JPMorgan analysts led by Nikolaos Panigirtzoglou, the SEC will give the green light to several ETF applications at once and will not allow any one applicant to gain “first mover advantage.”
JPMorgan noted: the approval of a spot Bitcoin ETF will undoubtedly increase the interest of large capital in investing in the digital asset market. But they expressed cautious optimism about the volume of future investments in such financial products.
In their estimates, JPMorgan analysts rely on the results that were achieved after the SEC approved Bitcoin futures ETFs. Case in point: the ProShares fund, which was the first to receive regulatory approval, was able to attract more than $1 billion in investments at the peak of interest. But then the popularity of the proposal began to decline, as did the amount of investment. Now the Bitcoin futures ETF market has stabilized, and ProShares has about $900 million in assets under management.
Source: Bits
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