1 year ago
Former FTX US President Brett Harrison recently had an interview with Cointelegraph Magazine. As portion of the discussion, Harrison gave his thoughts connected erstwhile a Spot Bitcoin ETF volition beryllium approved and the imaginable terms level the foremost crypto token could attain erstwhile this happens.
A Spot Bitcoin ETF Could Be Approved In Q1 of 2024
Harrison is said to person mentioned that determination is simply a precise “high probability” that the Securities and Exchange Commission (SEC) volition o.k. a Spot BTC ETF successful the archetypal 4th of 2024. His prediction happens to beryllium successful enactment with the information that the SEC has to marque a determination connected ARK 21Shares Spot Bitcoin ETF connected oregon earlier January 10, 2024.
As such, determination is so a precocious likelihood that a Spot Bitcoin ETF could beryllium approved successful Q1 of 2024 (and arsenic aboriginal arsenic January). Bloomberg analysts James Seyffart and Eric Balchunas had also earlier mentioned that determination is simply a 90% accidental that support volition travel by the January 10 deadline.
Meanwhile, determination is simply a increasing content that we mightiness person much than 1 Spot Bitcoin ETF exertion approved by January 10. Seyyfart had, aft the Templeton and Hashdex delay, reasoned that the SEC could beryllium lining up each ETFs for a “full question of approvals.”
Bitcoin’s Potential Price When This Happens
Harrison besides gave his thoughts connected what terms level Bitcoin could deed erstwhile a Spot Bitcoin ETF is approved. The erstwhile FTX US President seemed to person been blimpish with his terms prediction arsenic helium enactment BTC’s imaginable terms betwixt $50,000 and $55,000. He doesn’t foresee the foremost crypto token hitting six figures towards the extremity of 2024 oregon aboriginal 2025.
His prediction astir erstwhile Bitcoin could deed six figures coincides with Matrixport’s prediction of $125,000. The crypto fiscal services firm predicts that BTC volition deed this terms level by the extremity of 2024. Harrison’s prediction of the BTC terms rising to arsenic precocious arsenic $55,000 connected the backmost of support seems plausible erstwhile looking astatine Matrixport’s projection of BTC hitting $63,140 by April 2024.
Harrison is undoubtedly bullish astir a Spot Bitcoin ETF and the occurrence specified an concern conveyance tin enjoy. He alluded to the archetypal time of a Bitcoin Futures ETF launching to backmost up his optimism. The ProShares Bitcoin Strategy (BITO) ETF (the archetypal Bitcoin futures ETF) is reported to person seen much than $1 cardinal successful its archetypal 2 days aft launch.
BITO became the fastest ETF ever to deed that figure. However, Harrison believes that a Spot Bitcoin ETF could spell connected to interruption much records.
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