SEC Decision on Bitcoin ETF Applicants Expected by January 4, Hinted By A Giant Investment Firm

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In a potential game-changer, the SEC signals approval for spot Bitcoin ETFs, with the announcement expected on Jan. 3 or 4. This optimistic news triggers a robust 5% surge in Bitcoin’s value, crossing the $46,000 milestone and marking a significant 9% gain for the week and year.

Bitcoin ETF to Approve on Jan 4

The U.S. SEC hints at a forthcoming announcement regarding spot Bitcoin ETFs, a development eagerly awaited by industry insiders.

However, industry leaders, including BlackRock have told Fox Business media about the potential approval of spot Bitcoin ETFs. BlackRock suggests that the SEC’s decision to greenlight those applications and pave the way for a spot Bitcoin ETF listing could be out as early as January 3 or 4. 

If the green light is given, at least a dozen asset managers are poised to introduce spot Bitcoin ETFs on major exchanges like Nasdaq, Cboe BZX, and NYSE Arca. The launch date is tentatively set for January 10, offering a timeline for market participants to gear up for this significant development.

Bitcoin to Break $47k Mark

As the crypto community awaits regulatory clarity, Bitcoin is making waves with a robust surge. The cryptocurrency has jumped over 5%, breaching the $46,000 milestone. This surge marks a noteworthy 9% gain for Bitcoin within both the week and year-to-date periods.

Breaking free from its recent trading range, Bitcoin’s upward momentum suggests a potential move towards the $47,600 range. This breakout signals a bullish sentiment prevailing in the market, adding another layer of excitement for traders and investors.

As the crypto market eagerly awaits the SEC’s official announcement and Bitcoin continues its upward trajectory, these developments underscore a transformative phase for the cryptocurrency space