Key Takeaways
- Bitcoin Spot ETF approval is highly anticipated, with various scenarios considered.
- Crypto analyst Crypto Rover highlights BlackRock as a potential pioneer in Spot Bitcoin ETF approval.
- The SEC’s decision timeline may lead to early approval, but universal rejection is unlikely.
In a unique twist, Bitcoin Spot ETF finds itself under the spotlight as the situation around the approval of the first Bitcoin Spot ETF continues to develop. Initially, there was a delay in the decision by the SEC, but now, since the court ruling, there is a high-intensity anticipation around the approval.
Crypto Rover, an eminent crypto analyst, has given us two key two key assumptions that support the outlook for early approval. According to him, the pioneer in Spot Bitcoin ETF approval is BlackRock. The second possible scenario is that all the ETFs will end up getting approval on the second deadline.
Another possibility, however, is the fact that the SEC may drag the decision process, and the approval may come out approximately a week before the third deadline. It is interesting to note that the second deadline is just 45 days away. It is hard to comment on how things will turn out, but analysts of the crypto community remain optimistic.
It is integral to remember here that the SEC can decline the ARK ETF application, but this is a highly unlikely scenario given the greenlight given to others. Moreover, the universal rejection of all Spot Bitcoin ETFs is also an unlikely event.
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