Bloomberg Analyst Commented: Will SEC Reject Bitcoin ETFs? - Coin Newsletter

Bloomberg analyst Eric Balchunas thinks it's unlikely that the SEC will reject spot Bitcoin ETFs entirely.

According to Balchunas, the U.S. Securities and Exchange Commission (SEC) will accept 90% of applications for spot Bitcoin exchange-traded funds (ETFs) by Jan. 10.

Explaining why they didn't give it more than a 90% chance, Balchunas said the SEC could delay them because it needed "more time".

"I think if we don't see that in the next two weeks, it's probably because (the SEC) needs more time," Balchunas said. Said.

The Bloomberg analyst does not see a complete rejection of spot Bitcoin ETF applications as a likely scenario.

The SEC has met repeatedly with issuers to discuss how the funds will be managed and how they will be traded.

Noting that both sides have put a lot of time and effort into this, Balchunas said that the SEC's last-minute rejection of ETFs would be a **"rug pull of 10 years"****, and that the word "sadistic" **

Balchunas added that if this happens, issuers could take legal action:

*"People have spent too much money and put in too much effort to give up at this point. So yes, I don't think it's going to end. I don't think there will even be a calming process this time. Partnership goes to hell." *