The first applications for the launch of spot bitcoin ETFs will be reviewed by the U.S. Securities and Exchange Commission (SEC) in the period from January 8-10, according to information from Bloomberg analyst James Seyffart.

According to the expert, the SEC deliberately postponed its decision in order to approve many submitted applications at the same time. This is a measure that will avoid giving any applicant company an advantage over others, Seyffart believes.

According to him, "The SEC does not seek to single out favorites in this race, whether it is the availability of large assets or liquidity. So if the Commission plans to approve them, it will probably do so at the same time to avoid the role of a judge."

An additional argument in favor of approving the bitcoin ETF is the victory of Grayscale in court over the regulator, which occurred this summer. The Bloomberg analyst believes that the SEC found itself in a difficult position after the court's decision.

In fact, earlier, the head of the SEC, Gary Gensler, announced a review of the regulation of bitcoin ETFs after "court decisions". He noted that the Commission is currently studying up to 12 applications.

The head of JAN3, Samson Mou, expressed the opinion that the bitcoin exchange rate will rise to $ 1 million after the approval of the first BTC-ETF in the United States. The expert predicts that this may happen within a few "days or weeks" after the application is approved. The key factor for a significant increase in the price of cryptocurrencies will be investments by institutional investors next year.

"We expect a very limited supply of bitcoin on exchanges, available for purchase when new funds arrive. That's why the asset can reach significant heights in a short time," Mou explained.

Consequently, the issue of the future approval of bitcoin ETFs remains relevant, and many expect that this could have a big impact on the cryptocurrency market.