Spot Bitcoin ETF ‘nailed on’ for 2024: K33 report

The approval of a spot Bitcoin exchange-traded fund (ETF) by Jan. 10, 2024, appears to be set in stone, with a new spate of ETF updates only adding further to the likelihood of an approval, say K33 research analysts.

In a Dec. 19 report, K33 head of research Anders Helseth and senior analyst Vetle Lunde said the recent round of ETF updates — with filers including BlackRock and ARK Invest now agreeing to a cash-creation setup for their funds — means that an approval is “nailed on” for January.

Additionally, the report highlighted the strength of Bitcoin price action over the past week, with analysts noting that spot trading volumes of BTC had been substantially higher than in previous months.

#news #btc #etf #sec

Dec-20-2023 08:31:25 AM