The Bitcoin ETF discussion has picked up pace with the SEC meeting with various exchanges. The commission recently met with NASDAQ, NYSE, and CBOE exchanges to discuss the spot Bitcoin ETF.
In the past two days alone, names like VanEck, Fidelity, and Grayscale have also filed for a Bitcoin ETF. The firms filed the 8-a forms for registration of the securities. All this is done in the light of expectations that the SEC will release its first wave of approval by January 10.
The filing process is being carried out to help applicants learn about the investment product. The process requires a thorough understanding of the securities offered, distribution date, applicant terms, and issuance details.
The past few months have been quite hectic for the crypto community, especially Bitcoin. It started with rumors spreading about BlackRock getting approval from the SEC. The rumors breathed new life into BTC, and the coin has been going strong since then.
Bitcoin is currently trading at $43,653, registering a 1.11% growth in the past 24 hours. The coin has major updates coming in 2024 Q1, including the ETF approval and its 4th halving. Thus, Bitcoin future value predictions are a popular topic of interest among traders.
Experts expect BTC to break through its all-time high shortly after the first wave of ETF approval. The upcoming halving will also benefit the prospect.
A week of silence brought Bitcoin below $41,000 after a while. As expected, the movement freaked investors; however, BTC has made a turnaround since then, courtesy of the SEC’s meeting with major exchanges.
Bitcoin is expected to carry its bullish run until it breaks through the $45,000 mark. The coin might face resistance at the $45,259 mark, but it won’t pose much trouble. However, if the expected wave of approval does not come through, the coin can easily drop below the $40,000 mark as well.