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Analyst Explains Why a Bitcoin ETF Could Be Approved This Week

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The cryptocurrency market is excited about the potential approval of a Bitcoin ETF (exchange-traded fund) by the United States Securities and Exchange Commission (SEC).

This is a development that could significantly transform the industry. Experts and investors closely monitor signals from the SEC, as recent market analyses hint at an approval being closer than ever.

Bitcoin ETF Approval Nears

Grayscale Investments CEO Michael Sonnenshein recently sparked intrigue, hinting at a major upcoming development in the crypto market. Many widely interpreted his words as signaling the anticipated approval of a Bitcoin ETF.

The approval of such an ETF would mark a watershed moment for Bitcoin. Therefore enhancing its mainstream appeal and accessibility to a broader range of investors.

“It’s been a ten-year dress rehearsal. We’re ready for the main event,” Sonnenshein said.

Interestingly, Nate Geraci, President of ETF Store, fueled the rising speculation. Citing Bloomberg’s James Seyffart, Geraci suggested that this week could see the SEC issue crucial 19b-4 approval orders. This move would be significant, laying the groundwork for listing Bitcoin ETFs in the US.

Seyffart’s analysis indicates that while the SEC might approve ETFs under the 19b-4 process soon, actual listings could be delayed due to additional approval processes.

“If we are indeed going to see Bitcoin ETF approvals for this wave, I think it’s more likely to happen closer to January than this current window. As I’ve been saying and Nate said in his tweet: We *could* see approval under that 19b-4 process and then not see a Bitcoin ETF actually list for days, weeks, or even months after said approval,” Seyffart said

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Author: Bary Rahma

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