The crypto markets rallying amid renewed expectations that a spot Bitcoin ETF approval may be just around the corner.
On Nov. 8, James Seyffart, a Bloomberg analyst, tweeted that the U.S. Securities and Exchange Commission could approve applications for Bitcoin exchange-traded funds from Nov. 9 until Nov. 17. Seyffart said the eight-day window falls outside of the allotted comment period for the applications — during which they cannot receive approval.
"A brief window opens on Nov. 9 for the SEC to potentially approve all 12 U.S. spot Bitcoin ETF applicants,” said Seyffart. “If the agency wants to allow all 12 filers to launch — as we believe — this is the first available window since Grayscale’s court victory was affirmed.”
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