Analyst Holds Ground on Bitcoin ETF Approval in Jan, Urges Ignoring Noise

By BeInCrypto November 30, 2023 In Bitcoin

Eric Balchunas, a Bloomberg analyst, has reiterated to his 162,800 followers that he maintains unwavering confidence in the approval of a Bitcoin exchange-traded fund (ETF) in slightly over a month.

“What we watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates,” he declared.

Bloomberg Analyst Confident On Bitcoin ETF Approval

In a recent post on X (formerly Twitter), Balchunas clarified that people have been asking him if there’s been a change in his odds. He maintained his position that approval for Bitcoin ETFs could occur in slightly over a month:

“No, we still holding line at 90% odds of approval by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe).”

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Learn more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

Additionally, Balchunas pointed out that a considerable amount of distraction surrounds less crucial aspects in the ongoing Bitcoin ETF debate.

Predictions Have Been A Talking Point

Especially “over exact dates and comments and and timeline is the SEC and issuers are working hard behind the scenes to get these ETFs ready to go this cycle.”

Balchunas’ predictions regarding the approval likelihood have been in the spotlight for a while.

On August 31, BeInCrypto noted that he increased the odds of approval in 2023 by 75%. However, the current expectations are leaning towards approval at the outset of 2024.

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