The market is upbeat as Bitcoin advances 7.12% to $45,750 ahead of the major decision date as the Bitcoin ETF awaits SEC approval amidst huge paperwork.
The US Securities and Exchange Commission (SEC) is under pressure to complete a mountain of paperwork in time for the highly anticipated deadline for approving a Bitcoin ETF. But this doesn’t prevent market optimism.
Eleanor Terrett, a business writer for FOX, has expressed her skepticism over rush clearance. While the SEC’s actions are difficult to foresee, she said that the market remains hopeful due to bitcoin’s recent price climb.
According to crypto specialist Scott Melker, the ETF may get the green light as early as today, January 2. Despite the SEC’s stricter deadline, Terrett likened the current scenario to the acceptance of Ethereum futures in October of last year.
According to FOX Business reporter Charles Gasparino, the SEC could put off the statement until the weekend because of their workload.
By approving bids from firms like Fidelity and BlackRock by January 5, the SEC would be marginally ahead of public expectations. Consistent with past forecasts, Bloomberg analysts estimated that the approval would occur around January 8–10.
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