Amid widespread anticipation of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval that has culminated with fake reports that this has finally happened, Bernstein Research is positive that the United States Securities and Exchange Commission (SEC) would cave in in early January.
As it happens, the independent research arm of the global asset management firm AllianceBernstein has stated that the probable due date for the regulator to approve its first spot Bitcoin ETF is January 10, 2024, the firm said in a memo shared with TheStreetCrypto on October 30.
SEC working on Bitcoin ETF filings
According to Bernstein Research memo:
“The market was waiting to see if the SEC would appeal against the Grayscale verdict. Now that SEC has chosen not to appeal, and actually, has been actively responding with edits/comments on the ETF applications, the probability of approval by the Jan. 10 due date looks highly likely.”
On top of that, Neel Maitra, a partner at Wilson Sonsini and former me
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