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International Business Times
International Business Times
Business
Nica Osorio

Chance Of SEC Rejecting Bitcoin ETF Down To 5%, Says ETF Analyst

SEC ETF Bitcoin Eric Balchunas X ARK Ark Invest James Seyffart Joe Biden Crypto
Bitcoin on gamer keyboard (Credit: QuoteInspector.com/flickr)

KEY POINTS

  • The SEC is required to make a statutory decision on the spot Bitcoin ETF application of ARK Invest and 21 Shares on Wednesday
  • An ETF analyst said the chance that SEC will reject spot Bitcoin ETF applications is now at 5%
  • His gained confidence in Bitcoin ETF approval after another ETF analyst outlined three possible scenarios in the event that the SEC rejects the proposals

With the U.S. Securities and Exchange Commission's deadline to decide on the spot Bitcoin exchange-traded fund (ETF) application of ARK Invest and 21 Shares just a couple of days away, Bloomberg Intelligence senior ETF analyst Eric Balchunas has shared that the chance of the financial regulator rejecting the proposals is now at 5%.

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