There's no holding back this time. The crypto universe is buzzing an all time high with rumours for a potential approval of spot Bitcoin ETFs at anytime. Claims and sources for the claims are flying everywhere that multiple ETFs are gonna be approved by the Securities and Exchange Commission (SEC) on Friday, 5th of January.
"Rumors are like ripples in a cornfield. They are ephemeral, but they do indicate which way the wind is blowing." While most people disregard rumours, this quote from Susan's J. Palmer exactly underpins the real values of rumours. Yes, these values share much similarity in the event of full house rumours associated with Bitcoin ETFs approval. While the claims may depict an overall rumour scenario, they definitely suggest which side the wind is blowing for the future of Bitcoin.
With the hashtag #ETFBitcoin and #BitcoinETFs are currently trending on 'X', this chorus of rumours started with a tweet from Grayscale's Chief Legal officer Craig Salm whose tweet about "filling some forms" has already got 2.2 million views.
As a legal officer, it's the work that Craig does on a regular basis, however the crypto fraternity took it as an indication. More so because Craig wouldn't write on a social media platform if these are some irrelevant forms.
While Craig's tweet was making huge rounds on X, another one came from a journalist citing sources 'close to the matter' that Multiple ETFs approval would occur on Friday.
After such tweets, Social Media X is flooded with such tweets. However, it's important to note that January 5th only marks the starting of a potential ETF approval window closing on January 10, 2024. Additionally, when we look at the possible outcomes, ETFs may see an approval, or a delay, or with a very little probability a rejection.
Apart from rumours, the most significant indicator for approval is the release of commercials from various ETF applicants. After all these are sophisticated firms, they wouldn't invest unless they are sure of profits. Look at the following list of major players who are lining up for Bitcoin Spot ETFs.
Another event that's promising for something big to happen is 'Tether Treasury minting 2 Billion USDT in just 24 hours. Whale.alert on X wrote about a transaction where 1 Billion USDT are transferred to a whale wallet.
Furthermore, there are reports that SEC has been holding meetings with the New York Stock Exchange, Nasdaq, and Cboe to finalize comments on spot Bitcoin ETFs.
However with odds are nearly 100% set for a positive news, we must not neglect the otherwise outcome. The one and only reason for a delay is the man who has the final authority. Yes, this is the same man who has been ignoring Spot Bitcoin ETFs with vague reasons for years now. Many analysts still believe that Gensler wouldn't approve them for his ego more or less.
So, guys if you are enjoying the probable final 'rumour episode' where 'Bitcoin is seriously poised to win, tell me in the comment box which 'rumour post is your favourite one. My favourite post till now is.....let's enjoy and hope for the best.
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