A federal court ruling this week has increased the likelihood of a Bitcoin (BTC) exchange-traded fund (ETF) launching by the end of the year. According to Bloomberg ETF experts James Seyffart and Eric Balchunas, there’s a 75% chance that a spot market BTC ETF will launch by the end of 2023 and a 95% chance that one will launch by the end of next year. The ruling came after digital asset manager Grayscale won a lawsuit against the U.S. Securities and Exchange Commission (SEC). Grayscale had sued the SEC in June 2022, alleging that the regulatory body’s rejection of their bid to launch a BTC ETF was discriminatory. Seyffart believes the creation of a spot market ETF based around the top crypto asset by market is basically a “done deal” for 2024. Bitcoin is currently trading for $27,166 at time of writing, a 1.1% decrease during the last 24 hours.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Grayscale, SEC, Eric Balchunas, James Seyffart, None |
| Companies | Twitter, Bloomberg, Grayscale, U.S. Securities and Exchange Commission (SEC), Telegram, Bitcoin (BTC), Facebook |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
