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Bloomberg analysts evaluating the latest developments in Spot Bitcoin ETF applications have raised their views on the possibility of the SEC approving Spot Bitcoin ETF applications from 50% to 65%. The analysts emphasized that their predictions for ETF approval were 50% a few weeks ago and 1% a few months ago.
Will SEC Give Green Light to Spot Bitcoin ETFs?
Due to the SEC’s past rejections of Spot Bitcoin ETF applications and SEC Chairman Gensler’s negative comments on Spot Bitcoin ETFs, it was almost impossible for Spot Bitcoin ETFs to be approved in the near future. However, the consecutive ETF applications made by major asset management companies such as BlackRock and WisdomTree reversed this expectation in the markets.
With the SEC’s acceptance of BlackRock’s ETF application for review, the expectation of approval for applications from the SEC also increased in the markets. Bloomberg analysts, who mentioned a few weeks ago that the probability of approval for the applications was 50%, also raised their views on the possibility of approval for ETFs to 65%.
Analysis of the Current Situation by Bloomberg Analysts
Bloomberg analysts James Seyffart and Eric Balchunas wrote a joint report evaluating the current situation in ETF applications. The analysts raised their views on the possibility of the SEC approving Spot Bitcoin ETF applications from 50% to 65%.
Bloomberg analyst James Seyffart, who made a post on the topic on Twitter, emphasized that their predictions for the probability of approval for Spot Bitcoin ETFs were 50% a few weeks ago and 1% a few months ago. The analyst stated the following in his post:
“Based on recent events and new information, Eric Balchunas and I officially raise our spot Bitcoin ETF approval rates to 65%. This rate was 50% a few weeks ago and 1% a few months ago.”
