TechCrunch’s experienced cryptocurrency reporter Jacquelyn Melinek expressed that she expects significant developments next Friday.
In her statement made on the social media platform Twitter, Melinek said:
“Heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for multiple firms’ applications.”
While such simultaneous approvals had been anticipated before, previous reports were not as clear and definite.
Cathie Wood, CEO and CIO of Ark Invest, suggested in August that multiple approvals could occur simultaneously due to similarities among various applications. She also pointed out that the SEC had previously approved Bitcoin and Ethereum futures ETFs consecutively.
Friday Expected for ETF Approval
Melinek expressed her expectations by saying, “I’m expecting a significant development tomorrow.” but did not clarify whether this expectation meant a definite approval.
Other journalists from FOX Business foresaw that the SEC might announce the approvals on Friday, January 5th, ahead of the deadline five days later.
There are other signs that approval is imminent. Several applicant companies, including Grayscale, VanEck, and Fidelity, submitted their 8-A registration statements to the SEC on January 4th.
The SEC conducted a meeting on January 3rd with the exchanges Nasdaq, NYSE, and Cboe BZX, which will list these ETFs. According to FOX Business reporter Eleanor Terret, comments were finalized at this meeting. Bloomberg ETF analyst Eric Balchunas indicated that the completion of comments signifies the end of the approval process, though additional applications are expected.
If the SEC does not approve a spot Bitcoin ETF on Friday, it will have to decide on Ark Invest’s application by January 10th. Although the SEC has the right to reject applications, Bloomberg ETF analysts believe that one or more ETFs will most likely be approved by Ark Invest’s January 10th deadline, with a 90% probability.”