Spot ETF-induced Bitcoin rally isn’t guaranteed to stick: Analysts

While the approval of a spot Bitcoin (

The certainty and timing of a spot Bitcoin ETF approval is still up for debate. While unlikely, ETF analysts said that SEC Chair Gary Gensler could be waiting until the very last minute to pull off an “amazingly sadistic” denial of the impending applications.

While analysts from JP Morgan claimed in an Oct. 17 investment note that an approval could arrive within the next few months, the general consensus — held by Bloomberg ETF analysts James Seyffart and Eric Balchunas — peg the chances of an approval by Jan. 10 next year at 90%.

I’ve gotten a lot of questions regarding my current view on Spot #Bitcoin ETFs over the last couple weeks. This is the first section of the note I put out yesterday with @EricBalchunas.

TLDR: Our view hasn’t changed much https://t.co/dRAm5IsdQf pic.twitter.com/Htsi3n2XxV

— James Seyffart (@JSeyff) October 13, 2023