Bloomberg’s ETF specialists remain convinced that the SEC will approve all spot BTC ETFs, so why are BTC derivatives losing their appeal?
Bitcoin (BTC) price oscillated between $44,745 and $47,910 in less than 30 minutes on Jan. 9 as market participants tried to validate the United States Securities and Exchange Commission’s post on X (formerly Twitter) that suggested all spot BTC exchange-traded funds (ETFs) were approved.
Bitcoin’s price eventually stabilized near $46,000 after SEC Chair Gary Gensler denied the news, but investors became increasingly suspicious that the situation could reduce the approval odds of the ETF decision by Jan. 10.
As explained by Jesse Berger, the author of Magic Internet Money, on X, the “unauthorized” post by the SEC could be used as an excuse to delay the spot Bitcoin ETF.
