Will 12 Spot Bitcoin ETF Filings Be Approved This Week? A Pivotal Moment for Crypto
The race for the approval of Bitcoin exchange-traded funds (ETFs) in the United States has reached a crucial juncture. Starting tomorrow, there’ll be a small window during which the Securities and Exchange Commission could approve 12 pending Bitcoin ETF applications. This week could be a watershed moment, potentially ushering in a new era of mainstream Bitcoin investment.
Multiple Spot Bitcoin ETF Approvals Imminent?
Analysts have been predicting that the US SEC might potentially go for approval of multiple spot ETF filings at once, in order to avoid favoring any single applicant. Investment management firms, stock exchanges, and the U.S. Securities and Exchange Commission on Friday discussed final wording changes on filings for spot bitcoin, fueling speculation that a decision is imminent. News spread, citing “sources extremely close to the matter,” that the SEC would be approving the spot BTC ETF for multiple firms’ applications.
Approval Window Opens: What to Expect
Bloomberg ETF analysts James Seyffart and Eric Balchunas note that the 12 pending spot Bitcoin ETF filings will enter a “window” for possible approval within the next eight days. Bitcoin spot ETF approval edges closer to reality as the 11 applicants submitted updated 19b-4 filings on January 5. For a successful ETF approval, the US SEC must be satisfied with these final submissions.
Spot Bitcoin ETF: On Its Way?
Anthony Scaramucci, the founder of SkyBridge Capital, is quite optimistic about a spot Bitcoin ETF approval, estimating we may see approvals as early as January 2025. However, the current window presents a more immediate possibility. While a spot Bitcoin ETF is on its way, potentially opening the floodgates for institutional investment and greater accessibility for retail investors, the question remains: will the SEC seize this opportunity to approve multiple applications this week?