Last Updated on August 31, 2023 by Bitfinsider
Following Grayscale’s court victory over the Securities and Exchange Commission (SEC) yesterday, Bloomberg ETF analysts James Seyffart and Eric Balchunas revised their forecast for the introduction of a spot bitcoin ETF product.
Analysts now predict that a spot bitcoin ETF will begin in 2023, with it practically a “done deal” by the end of 2024.
“James Seyffart and I are increasing our odds of spot bitcoin ETFs launching this year to 75% (95% by the end of 2024).” While we considered Grayscale’s victory into our earlier 65% odds, the unanimity and decisiveness of the verdict exceeded our expectations and left the SEC with very little wiggle space,” Balchunas wrote on X (previously Twitter).
“A lot of people asked yesterday. “Eric and I have moved to 75% for a 2023 launch of a spot bitcoin ETF, and we believe one will be launched by the end of 2024,” Seyffart stated.
“We believe that the legal and public relations losses will combine to make denial politically untenable,” Balchunas added.
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