Bloomberg ETF Analyst: The SEC's strategic delay of ETF applications is to prevent any party from gaining a first-mover advantage

ChainCatcher news, Bloomberg ETF analyst James Seyffart reiterated in an interview on The Scoop podcast that he believes a Bitcoin spot ETF is very likely to be approved by January 10 of next year.

It is reported that Seyffart has held this view since October of this year, estimating a 90% chance of approval before January 10. This is because the ETF applications from Ark and 21Shares (first submitted in April, ahead of BlackRock) have reached their final deadline. The SEC has been strategically delaying to schedule various applications, or at least to approve some applications simultaneously, to avoid giving one company a first-mover advantage. However, Grayscale's ETF application is currently different from others and may not be approved at the same time.

Regarding questions related to Ethereum spot ETFs, Seyffart stated that Ethereum and Bitcoin are completely different, and the SEC may emphasize the differences between Ethereum's current PoS and Bitcoin's PoW. If the SEC wants to halt this approval process, it may delay its decision or assert that Ethereum is a security. However, Seyffart believes the SEC has implicitly accepted Ethereum's positioning as a commodity, so he thinks an Ethereum spot ETF is ultimately "more likely" to be approved before the end of May.