Spot Bitcoin ETF Approval In January Looks Promising, Says Bernstein Research By Benzinga

Benzinga – Enthusiasm for a spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) continues to surge, and analysts now believe its probable approval in early January “looks highly likely,” according to Bernstein Research.

The SEC’s recent active engagement, marked by its feedback on ETF applications without challenging the Grayscale case outcome, suggests a favorable verdict by Jan. 10 is on the horizon, the Bernstein Research note elaborated, as reported by TheStreetCrypto.

Amid this backdrop, discussions on digital asset trends and their future implications are set to be a highlight at Benzinga’s Future of Digital Assets conference on Nov. 14.

Also Read: Cryptocurrency Investors Beware: These Are New Hacking Techniques To Steal Your Coins

Spot Bitcoin ETFs grant investors a direct avenue to Bitcoin via an exchange-listed instrument.

While a futures-based bitcoin ETF was introduced two years prior, the market still lacks an ETF that provides this direct link, a feature eagerly awaited by crypto aficionados.

SEC chairman Gary Gensler recently highlighted that nearly ten applications for a Bitcoin ETF are in the pipeline. Reuters reports that Gensler said, “They’ll come potentially to the five-member commission. I’m not going to prejudge them but I don’t have anything on timing.”

Each application, he noted, has its unique submission date.

Read Next: US Asks UK To Strengthen Sanctions Against Hamas: What You Need To Know

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our November 13 Fintech Deal Day and November 14 Future of Digital Assets. Secure a spot here to join them!

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Get The App

Join the millions of people who stay on top of global financial markets with Investing.com.

Download Now