News Summary

• “The rumor mill is going full steam,” trader Scott Melkor said in response to the back-and-forth speculation across social media.However, Bloomberg ETF analyst James Seyffart described much of the speculation around a Jan. 5 approval as noise, saying he still expects approval to arrive between Jan. 8 and 10..
• A tweet from Grayscale’s legal chief that he was “just filling out some forms,” in addition to a widely shared tweet from a reporter, has fueled speculation that approval could come through within the next day..
• Related: Spot Bitcoin ETFs could be rejected if the SEC wants ‘more time’ — AnalystScott Johnsson, the general partner at VB Capital, said he was “still skeptical” that an ETF approval would be issued before next week..
• Senior Bloomberg ETF analyst Eric Balchunas explained the SEC is currently providing final comments and that issuers will soon file their final 19b-4 and S-1 forms soon afterward..
• Several tweets on Crypto X have fueled hopes that a spot Bitcoin ETF could be approved on Friday, though some analysts don’t think it will happen so soon..
• In his view, this makes it “very unlikely” that approval would arrive any time before the start of next week..