From the announcement of Blackrock joining the application for a Bitcoin spot ETF in 2023, the focus of crypto market news has revolved around the progress of “application, amendment, and approval”. However, these news are not sourced from the actual participants, the “applicant companies” and the “SEC”, but from three key individuals.
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Bitcoin Spot ETF News: Three People are Enough to Track
Eric Balchunas, Bloomberg ETF Senior Analyst
James Seyffart, Bloomberg ETF Research Analyst
Eleanor Terrett, Fox Reporter
Will Things Go as Planned?
Eric Balchunas
Possibly the Twitter celebrity with the most news and analysis on ETF progress, Eric has been interpreting and predicting the documents and prospects of Bitcoin spot ETFs for the past six months, often expressing optimism in the SEC’s approval.
Eric Balchunas is a veteran who has worked at Bloomberg for over 24 years, currently writing research, articles, and feature reports on ETFs for Bloomberg Terminal and Bloomberg.com. He also hosts “Exchange-Traded Friday”, discussing various ETFs and how investors can utilize them.
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Prior to joining the ETF team, Eric was responsible for public relations at Bloomberg. Before joining Bloomberg in 2000, he served as a reporter for Institutional Investor magazine. Eric holds a bachelor’s degree in journalism and environmental economics from Rutgers University.
(Twitter Account)
James Seyffart
The content he releases is similar to Eric Balchunas’, and his analysis often receives endorsement and retweets from Eric Balchunas.
James Seyffart spent 10 years at Bloomberg, always in the position of an analyst, with his research covering corporate bonds, hedge funds, mutual funds, ETFs, and more. He is currently dedicated to being an ETF analyst and his Twitter bio also includes cryptocurrencies.
(Twitter Account)
Eleanor Terrett
She has published numerous news related to digital assets, Bitcoin, and cryptocurrency ETFs on Fox TV, and is a professional reporter on cryptocurrency-related information in traditional media.
During this period, Fox TV has provided predictions from insiders multiple times. Recently, it claimed that Blackrock is expected to receive approval on 1/10, which was also reported by the media.
(Twitter Account)
These three individuals have provided the public with a better understanding of Bitcoin spot ETFs. For example, Chain News reported on the cash mode of ETF and quoted many analysts’ comments.
(Interpretation of ETF | How does SEC’s preferred cash mode differ from Blackrock’s Bitcoin physical ETF?)
The common point among the three is that they are very optimistic about the approval of the ETF, believing that there is no reason for it not to be approved in the current situation. They are highly praised by the crypto media and are extensively quoted.
On the other hand, there are relatively fewer opinions expressing that it will not be approved, at most, it will be delayed but not rejected. For example, analysts from Matrixport who predicted that it would not be approved in January (Matrixport Event Summary | Wu Jihan clarified with multiple tweets: Matrixport does not bear the responsibility for the price crash), and KOL Aylo also believes that Bitcoin will experience a major decline not when the ETF is approved, but when the actual trading starts, which will be in the first quarter.
As for whether it will pass on 1/10, James Seyffart stated that the SEC has issued supplemental comments on the recently submitted S-1 documents, so he expects to see more amended documents tomorrow, but he does not see this as a signal for delay.
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Further Reading
Bitcoin ETF and ETP | Circle: If the US approves ETFs, it will surpass a pile of Bitcoin investment products in the EU
Blackrock Layoffs 3%: Is the motivation behind developing Bitcoin ETF related to the political backlash caused by ESG?