Bloomberg: A Spot Bitcoin ETF Could Be Approved This Year

Analysts James Seyffarth and Eric Balchunas of Bloomberg now estimate the likelihood of a spot Bitcoin ETF launching before the end of 2023 to be 75%, after Grayscale’s legal victory over the SEC.

Balchunas believes the SEC’s image and legal losses from the lawsuit would render a denial “politically untenable.”

Meanwhile, the Commission has until early September to make decisions on Bitcoin fund applications from BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity and Valkyrie.

However, these analysts expect delays. Balchunas commented that the SEC will “take its time,” suggesting that “we will wake up one day and hear that the Commission has given up and the launch is imminent.”