BitcoinBTCCryptocurrency EducationIndustry AnalysisNews

Here’s When the SEC Will Approve a Spot Bitcoin ETF, According to Perplexity AI

2 Mins read

The Securities and Exchange Commission has been in the crypto community’s minds for the past few years, mainly due to the attacks it launched against numerous companies and projects.

Now, though, the agency is expected to finally greenlight a spot Bitcoin ETF in the US after a decade of rejecting all proposals.

ETF Next Week?

The start of the new year began a lot of hope for crypto investors and all the companies that have filed with the SEC to launch a spot BTC ETF in the States. It also resulted in a rally on the second day of 2024, followed by a massive rejection driven by reports that the Commission has no intentions of allowing such a product to reach the markets anytime soon.

While many experts have refuted these speculations, BTC’s price slumped by nearly five grand in hours. Nevertheless, it recovered most losses as the community prepares for the potential approval that could come as early as next week, according to a few ETF experts, such as Bloomberg’s Eric Balchunas.

The popular AI resource Perplexity has a similar answer to the question of when the SEC will finally greenlight a spot ETF tracking the performance of the largest cryptocurrency.

“The U.S. Securities and Exchange Commission (SEC) is expected to approve a spot Bitcoin exchange-traded fund (ETF) by the January 10 deadline.

While the SEC has not made a public statement indicating its decision, the ongoing discussions and meetings between the SEC and key players suggest a favorable decision is expected.”

Inflows and Benefits

The crypto industry is generally divided on whether a spot Bitcoin ETF will be a positive development. On one corner stand people like Jimmy Song, who believes such a product won’t matter, and Edward Snowden, who asserted that it will “tame” the core idea of Bitcoin. The other side of the coin sees the potential approval as the necessary validation BTC needs to be regarded as a legitimate financial tool among institutions.

Despite the conflict in terms of the ETF’s impact on the cryptocurrency, all experts are united in believing that the inflows toward the asset and the entire industry will skyrocket in the following years.

“The SEC’s potential approval of the spot Bitcoin ETF is anticipated to provide investors with access to the world’s largest cryptocurrency and could lead to significant institutional investment in the crypto industry.” – answered Perplexity to this question.


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.