Bloomberg ETF analyst: Bitcoin ETF to be approved today

The financial sector is abuzz, with a prominent Bloomberg analyst suggesting a Bitcoin ETF approval is just hours away.

Senior ETF Analyst at Bloomberg, Eric Balchunas, took to X with a bold prediction, suggesting that the approval for a Bitcoin ETF will be announced later today.

Although the approval has not been finalized, Balchunas indicated that all systems are set for an affirmative decision, likely between 4-6 p.m. EST, in time for the trading starting on Thursday.

Bloomberg is already preparing for this potential milestone by preparing the necessary description (DES) pages for their platform. DES pages refer to “Description Pages” on the Bloomberg Terminal, a computer software system provided by Bloomberg LP that enables financial professionals to access the Bloomberg Professional service through which users can monitor and analyze real-time financial market data and place trades on the electronic trading platform.

The DES pages provide detailed descriptions of securities, such as stocks, bonds, and ETFs (Exchange Traded Funds). They contain essential information, including financial statements, valuations, trading statistics, and other key data that traders and investors rely on to make informed decisions.