Bloomberg analysts have increased the probability of an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023 to 75%, up from an earlier estimate of 65%. This adjustment follows the recent victory of Grayscale against the U.S. Securities and Exchange Commission (SEC), which the analysts believe showcases the unanimity and decisiveness of the court’s ruling.
The judges unanimously rejected the SEC’s arguments, making it difficult for the agency to justify further denials in the future.
According to Bloomberg analysts, spot Bitcoin ETF approvals are anticipated to be a “done deal” by the fourth quarter of 2024, with the approval odds estimated to have surged to 95% by then.
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