Bloomberg ETF analyst James Seyffart has provided an updated forecast on the approval chances of various cryptocurrency spot ETFs, highlighting significant market developments.
Cryptocurrency exchange-traded funds have been a hot topic for some time now, and there have been rumors swirling about the U.S. Securities and Exchange Commission (SEC) approving such products soon.
Indeed, the SEC has already approved several Bitcoin futures ETFs, which are already trading on major exchanges. However, the regulator has yet to approve any Bitcoin spot ETFs, despite several applications being filed over the past few years.
Earlier this week, the SEC postponed its decision on several Bitcoin spot ETF applications again, pushing the decision deadline to early November.
While waiting for the final ruling on Bitcoin ETFs, Bloomberg ETF analyst James Seyffart provided an updated forecast on the approval chances of various cryptocurrency spot ETFs.
According to Seyffart, combination and index funds, alongside Litecoin and Solana, stand at a robust 90% probability of regulatory approval. These funds are expected to be approved by the fourth quarter of 2024.
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