Investors Predict 88% Odds of SEC Greenlighting Spot Bitcoin ETF

Rising Odds of SEC Approval for Bitcoin ETFs

The cryptocurrency market is abuzz with anticipation as the US Securities and Exchange Commission (SEC) edges closer to its decision on whether to approve spot Bitcoin ETFs (exchange-traded funds). This excitement is not just hype, as investors on the decentralized prediction platform Polymarket have been betting on the SEC’s approval. According to the latest trading prices, there is an 88% probability of approval by January 15, 2024, a significant increase from the 50% chance estimated just a month ago. The growing optimism is supported by recent reports that the SEC is preparing to notify the 14 applicants of spot Bitcoin ETFs about their approval status.