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The SEC’s choice on the bitcoin exchange-traded fund (ETF) is prone to arrive as soon as US inventory markets shut personal for the day, monetary specialists advised CoinDesk.

The US Securities and Exchange Commission has confirmed that it will release its choice on the ETF sought by traders Cameron and Tyler Winklevoss at this time, however bitcoin traders and market watchers are abuzz with hypothesis as to the timing of the discharge. Amidst the wait, bitcoin costs have bounced to new all-time highs.

While the SEC declined to touch upon when it will publish its choice, those that have seen related bulletins from the company say it might come as early as 4pm ET or as late as 6pm ET – primarily, as soon as US inventory markets shut their doorways.

Jeff Bishop, ETF knowledgeable and co-founder of investor message board platform RagingBull.com, advised CoinDesk:

“They like to push things to the last minute. When announcing news like this, I have found they want to do it outside of stock market hours.”

Others echoed of this view, together with Eric Balchunas, a senior ETF analyst for Bloomberg Intelligence, who affirmed that he has heard chatter that the SEC will announce its choice between 5pm ET and 6pm ET.

Phil Bak, a former New York Stock Exchange managing director and present CEO of ETF issuer ACSI Funds, stated he thinks the SEC will wait till US markets near reveal its choice.

“Usually they come in during the morning, but in this case we can probably expect it after the close … I would expect it between 4:00 and 6:00 or so,” he stated in an electronic mail.

Image by way of Shutterstock

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