Gensler and Other SEC Commissioner Seemingly in Favor of ETF Approval
SEC is likely to approve Bitcoin ETFs, with Bloomberg analyst Balchunas predicting a 90% chance and BlackRock set to seed their ETF today.
Eric Balchunas, Bloomberg’s senior ETF analyst, has suggested that the U.S. Securities and Exchange Commission (SEC) is likely to approve Bitcoin spot ETFs. He mentioned that three out of the five SEC commissioners support the approval.
Balchunas' statement comes in response to mixed opinions by Markus Thielen of Matrixport, who first predicted approval and then switched to predicting rejection. Thielen clarified that his change of stance was based on his analysis, not insider information.
Balchunas, having insights into the matter, estimates a 90% chance of approval. Today, the SEC is meeting with exchanges, and they might be informed about the ETF approval.
With two Republican commissioners and SEC Chair Gary Gensler, appointed by Joe Biden, seemingly in favor, the approval seems likely. Gensler has noted that legal directives have inclined them towards approval.
In related news, BlackRock is seeding their ETF with spot Bitcoin today, contrary to some unverified reports suggesting a delay to January 5th. Official documents indicate the seeding should occur today.
There’s a strong indication that the SEC will approve Bitcoin spot ETFs, with key insiders like Balchunas expressing confidence. This decision could be a significant step forward for Bitcoin in the mainstream finance world.
