Bloomberg ETF analysts have increased the likelihood of an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following Grayscale’s recent victory against the SEC. The analysts raised the chances to 75% from 65% due to the unanimous and decisive ruling by the United States Court of Appeals Circuit. They also estimate that the approval odds for a spot Bitcoin ETF will skyrocket to 95% by Q4 2024. The recent legal and public relations loss for the SEC makes a denial politically untenable. Seven Bitcoin spot ETF applications are due for a decision by the SEC in the next five days, and while there may be delays, it is likely that the SEC will eventually approve the Bitcoin spot ETFs.
