90% chance of BTC ETF approval before January 10, 2024

The cryptocurrency market has been propelled by optimism as the U.S. Securities and Exchange Commission (SEC) begins deliberating on decisions regarding Bitcoin exchange-traded funds (ETFs).

This anticipation follows applications from financial giants such as Invesco and BlackRock, as well as a recent court ruling supporting Grayscale in its dispute with the SEC.

Bitcoin experienced a significant price surge, reaching up to $38,000, reflecting the market’s expectations of ETF approval, before stabilizing around $36,500. Over the past month, Bitcoin has seen a notable 33% increase in value.

Although there is a possibility of a decision delay until 2024 if not made within the current timeframe, analysts from Bloomberg estimate a 90% chance of approval before January 10, 2024.


When the BTC ETF is approved, it is likely to receive approval for almost all ETF applications from reputable asset management firms due to fair treatment compliance.