Bloomberg ETF analyst Eric Balchunas said that although it is unlikely, if the US Bitcoin spot ETF application is rejected this month, the reason is likely that the Securities and Exchange Commission (SEC) wants “more time” rather than a direct rejection. Balchunas, in an interview with Cointelegraph, said that although he and his colleague, ETF analyst James Seyffart, still believe that the probability of ETF approval before January 10 is 90%, they have not raised this number mainly due to this concern. Balchunas stated that the SEC and Bitcoin ETF issuers have invested a lot of time and effort, which means that it is unlikely for the Bitcoin ETF to be completely rejected at the last minute. Vetle Lunde, an analyst at cryptocurrency research firm K33, expressed a similar view in a market report on January 2, but he believes that the probability of ETF rejection is only 5%. At the same time, Balchunas believes that if the SEC rejects it completely, fund issuers may take a similar approach to Grayscale by filing their own lawsuits against regulatory agencies. Source
