"The U.S. Securities and Exchange Commission (SEC) is poised to greenlight the first Bitcoin spot ETFs around January 8-10, as predicted by Bloomberg analyst James Seyffarth during The Scoop podcast.

Seyffarth suggests that the SEC intentionally delayed the approval process for these instruments, aiming to authorize a majority of them simultaneously to prevent any one issuer from gaining an unfair advantage. This strategic move fuels Seyffarth's confidence in the widespread approval of applications come January.

Another compelling factor favoring Bitcoin ETF approval is Grayscale's triumph against the SEC in August, leading Seyffarth to assert that the Commission is now "backed into a corner by the judges."
SEC Chairman Gary Gensler previously acknowledged that the agency is reassessing its stance on the instrument following "judicial decisions." Gensler revealed that the regulator is presently reviewing between 8 to 12 applications.

It's worth noting that on December 12, Seyffarth disclosed that SEC officials engaged in discussions about Bitcoin ETFs with representatives from BlackRock, Grayscale, Franklin Templeton, and Fidelity over the past week.

Hashdex analysts anticipate the initiation of trading for the instrument in the second quarter of 2024."