Sky Bridge CEO Anthony Scaramucci recently addressed X and said that the Bitcoin (BTC) Cash ETF (exchange traded fund) could be approved next week. Scaramucci says it's a holiday week and people don't pay attention. Therefore, ETF approval news may get lost in the celebrations. Scaramucci explains: “Classic news dump. The market doesn't expect it. Be ready.“
Just a theory: And don't be surprised if it happens, but it feels like the Bitcoin Cash ETF could be approved next week. It's a holiday week and it's also a way to cover up the news if people aren't paying attention. Classic news dump. The market doesn't expect it. Be ready.
— Anthony Scaramucci (@Scaramucci) December 22, 2023
Also Read: Bitcoin: Anthony Scaramucci Predicts Spot Approval Date for BTC ETFs
Investors in the USA have been waiting a long time for a Bitcoin (ETF). It seems as if her wishes are about to come true. Scaramucci had previously predicted an approval date for a spot BTC ETF in early January. While speaking on a podcast, he said that the January 10, 2024 deadline was likely. However, the Sky Bridge founder may have changed his stance and is now expecting an earlier date.
Many spot BTC ETF applicants have opted for an all-cash approach instead of the physical asset method. Companies will raise cash and buy BTC to create shares rather than purchasing the asset first.
Will the SEC approve a spot Bitcoin ETF in December?
One or more spot Bitcoin (BTC) ETFs could be approved by January 10, 2024, according to a Bloomberg analysis. The US Securities and Exchange Commission (SEC) has postponed all deadlines for its decision to 2023. Analysts expect the financial regulator to provide approval by early next year.
Also Read: Argentine Minister Says Contracts Can Now Be Settled in Bitcoin
However, Scaramucci could also be right. The SEC could announce its decision while investors and traders are busy celebrating the holidays to keep the development under wraps.
Nevertheless, there is also the possibility that the SEC will postpone its spot decision on the Bitcoin (BTC) ETF again for technical reasons. The US Securities and Exchange Commission (SEC) has received a negative ruling in its lawsuit against Ripple. The agency may feel that it is not yet equipped to handle the crypto market.
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