{"id":552890,"date":"2023-09-26T09:30:52","date_gmt":"2023-09-26T09:30:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=552890"},"modified":"2024-06-11T08:02:32","modified_gmt":"2024-06-11T08:02:32","slug":"analyst-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/analyst-spot-bitcoin-etf\/","title":{"rendered":"Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In a recent development, analysts at asset management firm Bernstein have predicted when the <\/span><a href=\"https:\/\/uniquehot.com\/crypto\/sec-announcement-crypto\/#:~:text=What%20The%20SEC's%20Latest%20Announcement%20Means%20For%20The%20Crypto%20Industry,-by%20Scott%20Matherson&amp;text=A%20recent%20announcement%20by%20the,actions%20have%20had%20on%20it.\"><span style=\"font-weight: 400\">US Securities and Exchange Commission <\/span><\/a><span style=\"font-weight: 400\">(SEC) will likely approve the first Spot Bitcoin ETF.<\/span><\/p>\n<h2>When Will The First Spot Bitcoin ETF Be Approved?<\/h2>\n<p><span style=\"font-weight: 400\">According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court <\/span><a href=\"https:\/\/bitcoinist.com\/breaking-grayscale-scores-victory-against-us-sec-spot-bitcoin-etf-imminent\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ruling in the Grayscale case<\/span><\/a><span style=\"font-weight: 400\">, which they believe could force the SEC\u2019s hands.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/defi\/200-million-crypto-mixin-network\/\">$200 Million In Crypto Lost As Mixin Network Comes Under Attack<\/a><\/div>\n<p><span style=\"font-weight: 400\">The court had ruled in favor of Grayscale in a case in which the <\/span><a href=\"https:\/\/uniquehot.com\/crypto\/gbtc-shares-grayscale\/\"><span style=\"font-weight: 400\">asset manager argued<\/span><\/a><span style=\"font-weight: 400\"> that the Commission had acted arbitrarily and capriciously by not giving its Spot Bitcoin ETF application the same regulatory treatment it did to Bitcoin futures ETFs. As part of its ruling, the court ordered the Commission to review the application again.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Many saw this as a major win and proof that a Spot Bitcoin ETF was imminent, with Bloomberg analysts also weighing in and <\/span><a href=\"https:\/\/bitcoinist.com\/likelihood-grayscale-spot-bitcoin-etf\/#:~:text=Odds%20For%20ETF%20Approval%20%E2%80%9C75,weren't%20approved%20by%20then.\" rel=\"nofollow\"><span style=\"font-weight: 400\">increasing the likelihood<\/span><\/a><span style=\"font-weight: 400\"> of these pending funds launching this year to 75%. They stated that \u201cthe unanimity and decisiveness of [the] ruling was beyond expectations,\u201d with the SEC having little or nothing to hang on to.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analysts at Bernstein also seem to adopt this view as they noted that the SEC would simply go the \u201cmiddle route\u201d and be more open to approving these ETFs rather than \u201cinventing another reason for refusal\u201d and sticking to the strict approach which they have taken on the crypto industry so far.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This projection also seems feasible since the SEC must decide (approve or deny) on the <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/sec-prove-bitcoin-is-not-manipulated\/\"><span style=\"font-weight: 400\">ARK 21Shares Bitcoin ETF<\/span><\/a><span style=\"font-weight: 400\"> by January 10, 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Considering that the court has overruled the primary reason why the SEC has continued to deny these applications, the Commission might have difficulty coming up with another convincing reason to deny the application.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Before then, the SEC will be expected to decide on some pending applications <\/span><a href=\"https:\/\/uniquehot.com\/news\/october-important-sec-crypto\/#:~:text=The%20second%20deadline%20for%20several,the%20Bitwise%20Bitcoin%20ETP%20Trust.\"><span style=\"font-weight: 400\">in October<\/span><\/a><span style=\"font-weight: 400\">. However, the Commission can delay its decision on them <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-spot-etf-sec\/#:~:text=Bitcoin%20Crashes%20Below%20%2426%2C000,Valkyrie%2C%20VanEck%2C%20and%20Bitwise.\"><span style=\"font-weight: 400\">once again<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h2>ETFs Integral To The Crypto Asset Management Industry<\/h2>\n<p><span style=\"font-weight: 400\">Bernstein\u2019s analysts also project the crypto asset management industry to grow from its current level (between $45 to $50 billion) to over $500 billion in the next five years. These ETFs, which they project could launch early next year, are part of the factors they believe could spur such growth.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-addresses-losing-money\/\">Number Of Ethereum Addresses Losing Money Just Reached A New All-Time High<\/a><\/div>\n<p><span style=\"font-weight: 400\">According to them, there will be increased demand from institutional investors in crypto assets, and funds such as a Spot Bitcoin ETF will be their go-to option. A Spot Bitcoin ETF will allow these investors to invest directly in the flagship cryptocurrency in a regulated manner.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In line with this, they expect the ETFs to hold 10% of the Bitcoin and Ethereum market cap and \u201c5-6% share for liquid crypto hedge funds.\u201d<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/zjhPh5ug\/\" alt=\"Bitcoin price chart from Tradingview.com (Spot Bitcoin ETF)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">BTC price sitting above $26,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a recent development, analysts at asset management firm Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF. When Will The First Spot Bitcoin ETF Be Approved? According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court ruling in the Grayscale case, which they believe could force the SEC\u2019s hands.\u00a0 Related Reading: $200 Million In Crypto Lost As Mixin Network Comes Under Attack The court had ruled in favor of Grayscale in a case in which the asset manager argued that the Commission had acted arbitrarily and capriciously by not giving its Spot Bitcoin ETF application the same regulatory treatment it did to Bitcoin futures ETFs. As part of its ruling, the court ordered the Commission to review the application again. Many saw this as a major win and proof that a Spot Bitcoin ETF was imminent, with Bloomberg analysts also weighing in and increasing the likelihood of these pending funds launching this year to 75%. They stated that \u201cthe unanimity and decisiveness of [the] ruling was beyond expectations,\u201d with the SEC having little or nothing to hang on to. The analysts at Bernstein also seem to adopt this view as they noted that the SEC would simply go the \u201cmiddle route\u201d and be more open to approving these ETFs rather than \u201cinventing another reason for refusal\u201d and sticking to the strict approach which they have taken on the crypto industry so far.\u00a0 This projection also seems feasible since the SEC must decide (approve or deny) on the ARK 21Shares Bitcoin ETF by January 10, 2024.\u00a0 Considering that the court has overruled the primary reason why the SEC has continued to deny these applications, the Commission might have difficulty coming up with another convincing reason to deny the application. Before then, the SEC will be expected to decide on some pending applications in October. However, the Commission can delay its decision on them once again.\u00a0 ETFs Integral To The Crypto Asset Management Industry Bernstein\u2019s analysts also project the crypto asset management industry to grow from its current level (between $45 to $50 billion) to over $500 billion in the next five years. These ETFs, which they project could launch early next year, are part of the factors they believe could spur such growth. Related Reading: Number Of Ethereum Addresses Losing Money Just Reached A New All-Time High According to them, there will be increased demand from institutional investors in crypto assets, and funds such as a Spot Bitcoin ETF will be their go-to option. A Spot Bitcoin ETF will allow these investors to invest directly in the flagship cryptocurrency in a regulated manner.\u00a0\u00a0 In line with this, they expect the ETFs to hold 10% of the Bitcoin and Ethereum market cap and \u201c5-6% share for liquid crypto hedge funds.\u201d BTC price sitting above $26,000 | Source: BTCUSD on Tradingview.com Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":552894,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,9960,656,1144,78790,1944,89193,8379],"class_list":["post-552890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-etfs","tag-bitcoin-news","tag-btcusd","tag-btcusdt","tag-etf","tag-etf-news","tag-etfs"],"acf":[],"yoast_head":"\n<title>Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved<\/title>\n<meta name=\"description\" content=\"Analysts at Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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