We Have A 75% Chance of Bitcoin ETF Launch In 2023

It has been just revealed the fact that there is a massive change that we see a 75% chance of a BTC ETF launch this year. Here are the available reports about the matter.

Bloomberg analysts assert that a Bitcoin (BTC) exchange-traded fund (ETF) will undoubtedly launch by the year’s end and certainly by 2024.

ETF experts James Seyffart and Eric Balchunas estimate a 75% probability of a spot market BTC ETF launching by the end of 2023 and a 95% probability by next year’s end.

The odds were significantly increased after Grayscale, a digital asset manager, won a lawsuit against the U.S. Securities and Exchange Commission (SEC).

In the lawsuit, concluded this week, a federal court unanimously ruled that the SEC must reconsider its rejection of Grayscale’s application to launch a BTC ETF to avoid arbitrariness and caprice.

Balchunas said the following:

“James Seyffart and I are upping our odds to 75% of spot Bitcoin ETFs launching this year (95% by the end of ’24). While we factored Grayscale win into our previous 65% odds, the unanimity and decisiveness of [the] ruling was beyond expectations and leaves SEC with ‘little wiggle room.’”

According to Seyffart, there is a strong possibility that a spot market ETF focused on the top cryptocurrency by market will be introduced by the end of 2024.

He and Eric Balchunas have raised their expectations for a 2023 launch to 75%. In the meantime, investment firm Grayscale has filed a lawsuit against the SEC in June 2022, alleging discriminatory practices for rejecting their proposal to launch a BTC ETF.

Currently, Bitcoin is trading at $27,166 with a 1.1% decrease over the past 24 hours.

According to renowned crypto analyst Benjamin Cowen, Bitcoin (BTC) may experience a significant market correction in September, as per its historical trends.

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