- Multiple Bitcoin ETF approvals may occur today, with experts and insiders dropping hints
- Social media posts from ETF experts and those involved in the process suggest that there could be a mass approval today
- A five-day approval window opens today
Expectations are high that multiple Bitcoin ETFs could be approved today, the first day of the five-day window allotted to possible approvals. In the last 24 hours, several experts have stated their belief, citing inside sources, that several approvals will come today, while high-ranking executives of firms involved in ETF applications have been dropping not-so-subtle hints. Many will be eagerly watching the Bitcoin chart to see how price reacts to any announcement, with predictions of a quickfire boom and bust making the rounds in equal measure.
Reports, Experts, and Insiders Drop Hints
Fox Business reporter Eleanor Terrett got the ball rolling on Wednesday when she reported that the Securities and Exchange Commission (SEC) was having finalizing meetings with the exchanges working with the would-be ETF providers:
🚨SCOOP: The @SECGov is holding meetings today with the exchanges (@Nasdaq, @CBOE, @NYSE) to finalize comments on the 19b-4s submitted by the $BTC Spot ETF issuers.
— Eleanor Terrett (@EleanorTerrett) January 3, 2024
ETF expert Eric Balchnaus echoed the positive sentiments, noting that this was the kind of thing he’d expect if approval was imminent:
Things you prob don’t do if you going to deny or delay. Hearing similar btw, and why why when we see updated (final) 19b-4s roll in that is sign approval imminent as SEC has been doing back and forth w issuers offline to perfect their 19b-4s vs doing numerous refilings a la S-1s https://t.co/1K0tUYD4xa
— Eric Balchunas (@EricBalchunas) January 3, 2024
The stakes were upped yesterday when Techcrunch’s Senior Crypto Reporter Jacquelyn Melinek posted to say that she expected something to drop on Friday:
expecting something tomorrow
— Jacquelyn Melinek (@jacqmelinek) January 4, 2024
Meanwhile, Grayscale’s Chief Legal Officer Craig Salm sent crypto Twitter into meltdown with a simple four-word post:
Just filling out some Forms
— Craig Salm (@CraigSalm) January 4, 2024
Another ETF expert, James Seyffart, was more circumspect, however, believing that providers would find out on Friday but approvals would not formally arrive until next week:
Lot of noise about tomorrow. Sticking to this. I’m not expecting official #bitcoin ETF approval orders tomorrow. Still expecting them January 8th-10th. https://t.co/UV43sydHNz
— James Seyffart (@JSeyff) January 4, 2024
Bitcoin’s price is behaving about as erratically as could be expected, jumping between $46,000 and $40,750 as rumors begin to fly. Whatever happens in the next few days, we can be sure of more of the same.
