Anthony Scaramucci Speculates Bitcoin ETF Approval by Next Week

In an insightful speculation, renowned financial analyst Anthony Scaramucci suggests that the cash-based Bitcoin Exchange-Traded Fund (ETF) approval could be just around the corner.

Timeline of Bitcoin

The spot Bitcoin exchange-traded fund (ETF) race is heating up, with issuers making tweaks to finalize the details of their products before the holiday period. BlackRock's latest amendment will see a third-party buyer and seller of Bitcoin for its fund, but the Securities and Exchange Commission may not approve.

El Salvador's Congress has passed a new migration law that allows expedited citizenship to foreigners who donate Bitcoin (CRYPTO: BTC) to the country's social and economic development projects, according to a Reuters report. What Happened: The bill was labeled a “vital interest” of President Nayib Bukele, who has temporarily stepped down from his duties to campaign for the presidential election in 2024.

Despite experiencing a significant drop from its all-time highs, major Bitcoin mining company Marathon Digital has undergone a substantial uptrend in its stock price over the past twelve months.

A new report from Kaiko, a top crypto data provider, reveals a surprising trend to follow post-ETF approval and potential ETF outflows, which might trigger selling pressure on the underlying markets. Despite a significant 10% price decline in the third quarter of this year, Bitcoin has seen a remarkable increase in its liquidity.

The U.S. Securities and Exchange Commission (SEC) has reportedly conducted a series of targeted conference calls with all filers of spot Bitcoin Exchange-Traded Funds (ETFs). Fox Business Network's Senior Correspondent, Charles Gasparino, described these engagements as a “rare” occurrence in regulatory actions.

According to the latest analysis by analyst Crypto World, Bitcoin is showing signs of resilience as it bounces off crucial support levels. While the price is nearing short-term resistance, Ethereum and several other altcoins are also gearing up for potential breakouts. Bitcoin is still within a bullish trend, marked by higher lows and higher highs.

In a recent development, the U.S. Securities and Exchange Commission (SEC) is reportedly in discussions with multiple applicants seeking approval for spot Bitcoin exchange-traded funds (ETFs). FOX Business correspondent Charles Gasparino revealed insider information, stating that the SEC is holding a rare joint conference call with prospective Bitcoin ETF filers.

The US Securities and Exchange Commission (SEC) reportedly held a joint conference call with spot Bitcoin ETF filers. Fox Business' senior correspondent, Charles Gasparino, shared an update on the development.

The crypto world witnessed a significant chapter close on December 20, 2023, as the United States Court of Appeals finalized the forfeiture of 69,370 Bitcoin. This decision, stemming from the notorious Silk Road case, marks one of the most substantial forfeitures in the annals of digital currency.

Argentina's new government has officially legalized the use of Bitcoin and other cryptocurrencies for contract settlements and payments under a new economic decree. Diana Mondino, the country's Minister of Foreign Affairs, International Trade and Worship, announced the development on social media on Dec. 21.