Bitcoin ETF Approval Coming Soon? Quick Price To $36K!

<p>&nbsp;"Doesn't the SEC approve all spot BTC ETF applicants? Or suddenly everything can't be done?"</p><p><br /></p><p>The price of cryptocurrency king Bitcoin (BTC) has finally managed to pass $36,000 as the Securities and Exchange Commission (SEC) reportedly has eight days left starting Thursday to approve 12 spot BTC ETFs.</p><p><br /></p><p>According to analysts Eric Bachunas and James Seyffar, the comment periods* for the seven applicants will end on Wednesday next week, therefore they expect the SEC to allow all 12 applications to launch their products.</p><p><br /></p><p>*A period of time during the informal rulemaking process during which the public can submit written feedback to federal agencies about the proposed rule.</p><p><br /></p><p><br /></p><p>The development will be the first approval shortly after Grayscale's October 23, 2023 court victory seeking to convert the approximately $17 billion Grayscale Bitcoin Trust (GBTC) into a spot ETF.</p><p><br /></p><p>Following Hashdex, Franklin and Global X applicants may have comment periods, the SEC is expected to ignore their applications for now and issue approval for the first nine filings.</p><p><br /></p><p>Among them are BlackRock, Grayscale, 21Shares &amp; Ark, Bitwise, VanEck, Wisdomtree, Invesco &amp; Galaxy, Fidelity and Valkyrie.</p><p><br /></p><p>There is no denying that the SEC has delayed its decision, but analysts strongly believe that the United States (US) regulator will at least approve a spot BTC ETF on January 10, 2024.</p><p><br /></p><p>As of this writing, BTC price has surged by 1.53% to $35,935 in the past 24 hours with a market cap of $702 billion and a further 1.04% gain over the past week.</p>