CNBC Report: Spot Bitcoin ETF Approval Will Take Place On January 10

Key Points:

• CNBC foresees spot Bitcoin ETF approval this week, opening doors for immediate trading.
• The anticipated Wednesday approval is a game-changer for over a dozen applicants, providing regulated access to Bitcoin for mainstream investors.
• Bitcoin surged to $47,000 on January 8 in anticipation of spot Bitcoin ETF approval, marking a significant turn for the digital asset market.

In a highly anticipated move, CNBC predicts that the U.S. Securities and Exchange Commission (SEC) will approve spot Bitcoin ETFs this Wednesday, with immediate trading set to commence the following business day.

Spot Bitcoin ETF Approval Expected This Wednesday

The news outlet has identified Wednesday as the crucial date, coinciding with a deadline for numerous prospective issuers, and CNBC assures that the SEC is likely to greenlight multiple applicants, currently numbering over a dozen.

This development is a major milestone, opening regulated avenues for mainstream investors to directly access Bitcoin. CNBC correspondent Kate Rooney cites reliable sources affirming the likelihood of spot Bitcoin ETF approval, sparking potential trading activity as early as Thursday or Friday.

The spot Bitcoin ETF approval, if realized, is poised to usher in a transformative era for digital asset investments in the United States, providing opportunities for a multitude of applicants eagerly eyeing the burgeoning market. This announcement follows months of buzz in the digital asset market, with 2024 expected to bring significant changes, notably the approval of various spot Bitcoin ETFs.

On January 8, Bitcoin surged past $47,000, fueled by expectations surrounding the imminent approval of spot Bitcoin ETFs in the U.S. While the investment product has yet to receive approval, the prevailing sentiment is that a shift is on the horizon, promising a positive turn for the digital asset market in the country.