Galaxy Digital CEO: The U.S. SEC is expected to approve a spot Bitcoin ETF before January 10

On December 20th, as reported by Cryptoslate, Galaxy Digital founder Mike Novogratz stated that "the U.S. Securities and Exchange Commission (SEC) is expected to approve a spot Bitcoin ETF by January 10, 2024. This is the final deadline before SEC Chairman Gary Gensler becomes embroiled in litigation with Grayscale, so I think we will see this news announced before then. It may then take six to eight weeks to begin trading."

K33 Research members also expressed their expectations for approval. In a report on December 18th, K33 senior analyst Vetle Lunde and Vice President Anders Helseth wrote that the latest updates to the ETF applicant's documents suggest that approval is likely to occur "in the next three weeks." In addition, they describe the approval date as "certain."

The January 10th deadline seems to come from Bloomberg ETF analysts Eric Balchunas and James Seyffart. In October, these two Bloomberg analysts predicted a 90% probability of approving a spot Bitcoin ETF before that date.