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International Business Times

Business

Nica Osorio

Analysts Weigh-In On Spot Bitcoin ETF Rejection Report, Maintain Jan. 8-10 Approval Timeline

Bitcoin SEC ETF Matrixport Eric Balchunas Scott Johnson X James Seyffart Bloomberg Intelligence

Photo of a Bitcoin and an Ethereum coin on weathered wood in the sun. (Credit: QuoteInspector.com/flickr)

KEY POINTS

Bitcoin experienced a sharp price drop Wednesday after a report claimed the SEC will not approve all spot BTC ETF applications
Industry experts believe the SEC will approve applications sometime next week
Bitcoin was trading in the red zone at $43,112.73 as of 3:50 a.m. ET on Thursday

The crypto market saw heavy losses Wednesday after a report surfaced online claiming that the U.S. Securities and Exchange Commission (SEC) will reject the spot Bitcoin exchange-traded fund (ETF) applications this month. Industry analysts and experts weighed in on the issue following the report and maintained their earlier prediction that the regulator's decision will likely be announced between Jan. 8 and 10.

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