The U.S. SEC might not be comfortable with BlackRock’s “prime execution agent” change in its new spot Bitcoin ETF update, but analysts still expect approvals in early January.
As applicants for spot Bitcoin (BTC) exchange-traded funds (ETF) rush to incorporate new cash-only requirements into their proposals in the last month of 2023, some analysts still expect ETF approvals in the United States by early 2024.
Bloomberg ETF analysts James Seyffart and Eric Balchunas anticipate that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF in January 2024 despite multiple last-minute amendments that applicants are scrambling to add to their proposals.
Seyffart took to X (formerly Twitter) on Dec. 21 to share his observations about BlackRock’s latest spot Bitcoin ETF update from Dec. 18, which accepted the SEC’s cash redemption system instead of in-kind redemptions, or those implying non-monetary payments like BTC.
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Source: https://cointelegraph.com/news/spot-bitcoin-etf-january-10-analysts