The Latest Breaking News from James Seyffart

Besides approving ARK's spot Bitcoin ETF, it is believed that the regulator could also give the go signal to several other applications on Jan. 10, a report said, citing a recent SEC guideline seen by "sources close to these firms."

Novogratz thinks the approval of the highly anticipated Bitcoin investment vehicle will benefit markets since it will add "more fuel for a fire" that would eventually trigger crypto assets to trade "like a maniac."

The ongoing discussions include "substantive details, some of which are usually discussed near the end of an ETF application process," a report has claimed.

On the eve of the potential approval of multiple spot Bitcoin ETF filings, rumor has it that the major issue now concerns whether the SEC would allow in-kind creations.

Although timelines on the approval of spot Bitcoin ETF filings are uncertain, Grayscale said it remained "focused on uplisting GBTC to NYSE Arca as a spot Bitcoin ETF."

Bloomberg Intelligence ETF analysts predict that there is a 90% likelihood that the U.S. Securities and Exchange Commission will approve the much-awaited spot Bitcoin ETF applications by Jan. 10.

With BlackRock's revised in-kind model proposal, it remains to be seen if the SEC would change its mind.

The SEC's latest move on Franklin might also apply to Hashdex, analyst James Seyffart said, adding it might set in motion what industry watchers, including ARK Invest's Cathie Wood, have been discussing earlier about a potential full wave of approvals.

Major cryptocurrencies experienced a significant surge amid anticipation surrounding the upcoming decision by SEC