Bloomberg analyst James Seyffart expressed the opinion in The Scoop podcast that the U.S. Securities and Exchange Commission (SEC) is likely to approve the first spot Bitcoin ETF around January 8-10. Seyffart believes that the SEC intentionally delayed the review of applications to approve them collectively, without giving an advantage to individual issuers. According to his perspective, this strategy will lead to the mass approval of requests in early January.

Grayscale's legal victory against the SEC in August could be an additional factor contributing to the approval of a Bitcoin ETF. James Seyffart noted that the court's decision put the Commission in a difficult position.

Gary Gensler, the head of the SEC, previously stated that the agency is reevaluating its stance on this financial instrument in light of "court decisions." He mentioned that the regulator is currently reviewing 8 to 12 applications for Bitcoin ETFs.

James Seyffart also reported that representatives from the SEC met with representatives of major financial companies, including BlackRock, Grayscale, Franklin Templeton, and Fidelity, last week to discuss matters related to Bitcoin ETFs.

In addition, analysts from Hashdex predict that Bitcoin ETF trading may begin in the second quarter of 2024.