Bitcoin (BTC)** has risen to the $44,000 level as confidence grows in the approval of spot Bitcoin ETFs by January 10, 2024.
BlackRock recently convened a series of meetings in preparation for spot ETF approvals.
Previously, BlackRock held frequent meetings with institutions** regarding the listing and trading of iShares Bitcoin Trust**.
There are positive expectations for spot Bitcoin ETFs, with BTC** expected to surpass $50,000 in January 2024 as confidence in the SEC's approval of ETFs grows. Currently, there is a 95% chance that a Bitcoin ETF will be approved in January 2024. BlackRock recently convened a series of meetings in preparation for spot ETF approvals.
According to the latest news, Grayscale reportedly held a meeting with the SEC ** on December 19, 2023 to discuss the possibility of converting Grayscale Bitcoin Trust (GBTC) to a Bitcoin ETF. According to the recollections of D**Id Remus of the Trading and Markets Division of the U.S. Exchange Commission, the discussion was related to proposed rule changes for the listing and trading of Grayscale Bitcoin Trust (BTC).
Previously, BlackRock held frequent meetings with institutions** regarding the listing and trading of iShares Bitcoin Trust**.
At the same time, the committee is expected to make a decision in favor of Bitcoin ETF approval after January 8, 2024. However, he mentioned that approvals may be subject to conditions to prevent money laundering violations, saying: "Unlike regular ETFs, you can only buy with cash**;;The SEC is concerned about the risk of ETFs being used as a money laundering tool. ”
The agency has a short period of time to make a decision on the ETF proposal between January 8 and 10. However, they said it was uncertain what decision the agency would make and said the SEC would likely approve the applications of a handful of companies first and then proceed with the applications of the rest. It is also possible that they offer the same date for all ETF applicants.
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