A recent victory by Grayscale over the federal securities regulator has boosted the prospects of a spot Bitcoin ETF getting approved by the end of 2023, according to Bloomberg analysts.
Eric Balchunas, a senior ETF analyst at Bloomberg, posted on X (Twitter) on Aug. 30 that they have increased the probability to 75%, up from 65% previously — citing the unanimous and clear ruling by the United States Court of Appeals Circuit in the case.
Bloomberg analysts James Seyffart and Elliot Stein wrote in a separate note on Aug. 30 that the SEC’s arguments were “unanimously repudiated” by the judges, and that the agency would have a hard time denying further applications as it faces deadlines.