Analysts Predict All Bitcoin ETF Approvals to Take Off in January

Crypto ETFs in the US Now Have a Clear Runway

Analysts of exchange-traded funds (ETFs) have determined that Bitcoin (BTC) spot ETFs in the United States have a “clear runway” to potential simultaneous approvals, due to the Securities and Exchange Commission (SEC) delaying its decision on the applications of Franklin Templeton and Hashdex ETFs.

On Nov. 28, Bloomberg ETF analyst James Seyffart posted on Twitter that the SEC requested comments on forms necessary for the ETFs to be listed and start trading, and that the comment and rebuttal period will last 35 days. The decision deadline was originally Jan. 1, 2024, but the SEC’s delay was 34 days earlier than expected.

Seyffart and his colleague Eric Balchunas had predicted 90% odds on spot Bitcoin ETF approvals by Jan. 10, 2024, and the delay “all but confirms” that the SEC was setting up all applicants for potential approval by that date.

Franklin’s ETF Bid Extension

Balchunas had a hunch that the SEC was looking to “clear the runway” for the Franklin’s ETF bid, and commercial litigator Joe Carlasare agreed, estimating that the approval could happen as early as January 5th or 8th of 2024.

On Nov. 28, Franklin submitted an updated Form S-1 to the SEC, which is typically required for registering securities, and the comment period for the ETF bid was extended until Jan. 3, 2024. Carlasare believes that this extends the probability of a March 2024 approval.

He added that “January is still likely the favorite though” for crypto review and getting crypto, as the fight out crypto and crypto united states continues to gala crypto now on Twitter and function x crypto. Crypto.com exchange and crypto of the day are also popular topics, as crypto January 2022 approaches.

Analyzing the filing, Balchunas declared that he is in favor of permitting all ETFs to launch at the same time, but it “seems kinda unfair” that Franklin may be allowed to launch its ETF on the same day as other providers, despite submitting the form months later.

Presently, there are 12 Bitcoin ETFs pending with the SEC, including bids from Grayscale and BlackRock. Most of them have a final decision date in March, with the exception of ARK Invest’s bid, which the SEC must approve or deny by January 10, 2024.