Brief Approval Window Opens for spot Bitcoin ETF Applicants, 90% Chance of Approval by January

Brief Approval Window Opens for spot Bitcoin ETF Applicants, 90% Chance of Approval by January

: Goldman Sachs

Goldman Sachs has published a report stating that it believes there is a 90% chance that a Bitcoin exchange-traded fund (ETF) will be approved by January 2021. According to the report, the current brief window for Bitcoin ETF applicants will likely open in the next few months and could remain open until the end of the year. This window provides a brief opportunity for applicants to submit their ETF applications and be ready should it get approved. The report added that the US Securities and Exchange Commission (SEC) appears to be receptive to the idea, which Goldman Sachs believes is likely to be approved. The report noted that a Bitcoin ETF would offer investors a way to gain exposure to cryptocurrencies without needing to purchase them outright on cryptocurrency exchanges.

The report further stated that the proposal has been pending approval since 2018, and while there is no guarantee that the SEC will approve the proposal, the 90% chance of approval makes a strong case for investors interested in investing in Bitcoin through an ETF. In addition to this, Goldman Sachs believes that the ETF would be a safe and liquid channel for investing in Bitcoin and other cryptocurrencies, which could lead to even wider adoption of virtual currencies.

The report noted that the approval of a Bitcoin ETF would open up the potential for institutional investment in the cryptocurrency, as well as potentially increasing its liquidity and providing support for a rally in prices. This could make Bitcoin a more attractive option for investors looking for exposure to digital assets, especially given its historical volatility.

Overall, Goldman Sachs’ report is giving a strong indication that a Bitcoin ETF could be approved by January 2021, or even earlier. As the SEC continues to review the proposal, the chances of approval appear to be getting stronger. This could open the doors to new avenues for investment in Bitcoin and lead to a surge in its underlying value.