Anticipating Bitcoin ETF Approvals: CNBC Prediction for Wednesday

• Expectations for Spot Bitcoin ETFs Approval Surge
• Spot Bitcoin ETFs Expected for Approval and Trading This Week
• Spot Bitcoin ETFs Competition Heats Up

Expectations for Spot Bitcoin ETFs Approval Surge

The anticipation for the approval of Spot Bitcoin$42,260 -0.64% ETFs is at an unprecedented level. Recently, CNBC expressed the expectation that these ETFs will be approved come Wednesday. They further posited that trading may kick off as soon as Thursday or Friday, within the same week. This deadline also holds significance for numerous potential issuers awaiting the green light for their investment product. Despite this, CNBC reassures that the US Securities and Exchange Commission (SEC) is poised to approve a number of these applications, with over a dozen lined up for consideration.

Spot Bitcoin ETFs Expected for Approval and Trading This Week

The past few months have seen a palpable excitement within the digital asset market, particularly in anticipation for 2024. Most of this excitement stems from the expected approval of various Spot Bitcoin ETFs in the United States. Though these investment products are yet to get the nod in the country, the general consensus is that this status quo is about to shift.

CNBC has projected that Spot Bitcoin ETFs will receive their first approvals by Wednesday of this week. They further stated that trading might commence as early as Thursday or Friday. It was also noted that several issuers of this investment product are expected to get the long-awaited approval.

Spot Bitcoin ETFs Competition Heats Up

According to CNBC's Kate Rooney, the approval of Spot Bitcoin ETFs is expected this week. She pointed to two sources confirming the looming January 10th deadline as the most probable approval date. Additionally, she touched on the upcoming price war among issuers concerning the fees associated with Spot Bitcoin ETFs.

Given that multiple ETFs are likely to get approved by the SEC, competitive pricing is inevitable. This factor is already evident in the advertising battle that started even before official approvals were given. This dynamic is poised to continue through pricing, with asset management firms such as BlackRock, Fidelity, and Grayscale squaring off in a bid to offer the most competitive pricing plans for their respective investment firms.

Edited by Jonathan Stoker