The post Bloomberg Analyst Warns of a Potential Pullback After Bitcoin ETFS Approval appeared first on Coinpedia Fintech News
Bloomberg analyst James Seyffart has opened up about the unfolding events surrounding the potential approval of a Bitcoin ETF. Seyffart reflected on the unpredictability of the situation, talking about the initial skepticism they faced when making earlier predictions about Gary Gensler’s approval.
Discussing the $10 million seeding from BlackRock, Seyffart said that people might be overly fixated on this aspect. He explained BlackRock’s past strategy of initially seeding with a smaller amount and later injecting more significant sums after the ETF launch.
Regarding the timing of ETF trading, Seyffart speculated that it could commence around the week of Martin Luther King Jr. Day, with approval anticipated between January 8th and 10th.
The conversation also explored into the intricacies of ETF approvals, stressing the need for both 19 B4 approval and S1 appro
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