Key Points:
However, Bloomberg ETF analyst James Seyffart, speaking on the X platform, claimed that there are, in fact, 11 spot Bitcoin ETF applications currently under review by the SEC. If the applications for GBTC conversion ETFs are included, the total number rises to 12. This discrepancy underscores the growing interest in Bitcoin-related investment products.
Chairman Gensler’s stance on the digital asset sector has been notably cautious and even critical. At the 2023 Securities Enforcement Forum, he cautioned: “Don’t get me started on crypto.” Despite this, Bitcoin’s value has surged this week, fueled by speculation that the SEC is nearing approval of a spot Bitcoin ETF.
Remarkably, a decade has passed since the first application for a spot Bitcoin exchange-traded fund was submitted by Tyler and Cameron Winklevoss in 2013, yet no such product exists in the U.S. market.
Several major financial firms, including BlackRock, Bitwise, WisdomTree, Fidelity, and Invesco, have pending applications for Bitcoin-related funds in the United States. The renewed optimism for a spot Bitcoin ETF has gained momentum with the recent court decision and the entry of the world’s largest asset manager into the arena.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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