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Bitcoin price today surpassed the $43,000 mark as Asian markets opened, driven by developments in ETFs. The updated prospectus by BlackRock revealed the trading symbol for the ETF, indicating that approval is drawing closer and bolstering market optimism.
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The SEC has held more meetings with potential ETF issuers this month than ever before. Previously taking a direct approach to reject applications, the agency has now become more communicative. File updates and meetings are clear signals that approval is imminent, fueling risk appetite. Bloomberg ETF expert James wrote the following a few minutes ago;
“Update: Hashdex had a meeting with the SEC on December 14 regarding Bitcoin ETF applications. I’m not sure why it wasn’t added to the site until yesterday. However, both the corporate finance and the trading and markets divisions were present.”
These meetings, especially after the GBTC court victory, indicate that the SEC is beginning to feel compelled to approve. The deadlines are approaching at the beginning of January, and we will see the SEC’s critical decision for crypto on January 9-10 (or by today).
