Bloomberg ETF analyst: Bitcoin ETF to be approved today

Jan 10, 2024 at 4:34 PM UTC

Edited by Brian Stone

News

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.

Happy ETF Approval Day (for real this time) to all those who celebrate.. as far as we know it's ALL SYSTEMS GO. Most likely is we see formal approvals ballpark 4-6pm today with the Derby starting on Thursday. We are ready at Bloomberg, getting DES pages up as we speak. pic.twitter.com/sh8aoYypdg
— Eric Balchunas (@EricBalchunas) January 10, 2024

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.