The crypto community has been stirred with confusion and speculation over the recent Bitcoin exchange-traded fund (ETF) filings with the United States Securities and Exchange Commission.
“My understanding here is that this is just a securities registration. In order to list the ETF still needs a 19b-4 approval and they need an effective/approved/completed S-1 document,” James Seyffart stated.
Bitcoin ETF Filings Cause Confusion in Crypto Community
Fidelity Investments’ filing with the US SEC sparked confusion among online speculators. Although some construed it as an indication of approval for its spot Bitcoin ETF, analysts swiftly refuted such claims.
The filing “an application for listing of the Shares of the Trust has been filed with and approved by Cboe BZX Exchange.”
Furthermore, the excitement is evident, with investors on the decentralized prediction platform Polymarket betting on this outcome
Meanwhile, the odds stand at an 88% probability of approval by January 15, 2024. as evidenced by the trading price of the “Yes” shares of the relevant contract.
However, the 88% probability marks a significant increase from the 50% chance estimated just a month ago. The growing optimism is not without foundation. A recent report revealed the SEC was poised to notify the 14 applicants of spot Bitcoin ETFs about their approval status.
This news has sent waves through the crypto market, with Bitcoin’s value soaring 55% since early October.
