Investors betting on the platform predict that the SEC will approve a spot Bitcoin ETF at a 90% rate by mid-January, but the minority is wary of the opposite outcome.
The stock price of the “Bitcoin ETF Approved January 15” contract rose to 90.00 and traded in cents on the decentralized forecasting hub Polymarket as speculation about an upcoming decision by the U.S. Securities and Exchange Commission (SEC) dominated market sentiment. saw.
As of this writing, $441,315 worth of ‘YES’ bets on this contract have been withdrawn, with only 10% of investors choosing the ‘NO’ option. These investors also realized that their contrarian bias was a way to hedge their bets and profits in case the SEC postponed its decision until after January 15.
While I don’t doubt the inevitability of a Bitcoin ETF, I doubt the SEC can work fast enough to say yes by January 15th. polymarket trader
According to Reuters, the SEC could announce approval as early as Jan. 3 for 14 issuers to list their products in the coming weeks. But Fox correspondent Eleanor Terret said that’s unlikely, based on an ongoing review of recent S-1 filings from companies like Hashdex and VanEck.
No one knows when the SEC will make a decision regarding the Spot Bitcoin ETF, but experts and crypto advocates are happy with the possibility of a result on January 10. This date coincides with the application deadline for anonymous shares offered by ARK 21Shares.
Ark Invest CEO Cathie Wood also expects a decision to be made by this date. Wood believes that if approved, Bitcoin (BTC) and cryptocurrencies will gain support on Wall Street.
