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Read more: In Which Countries Is Spot Bitcoin ETF Currently Approved?
CNBC reports that the SEC may grant approval notifications “as soon as this week” to spot Bitcoin ETF issuers. However, Fox Business correspondent Eleanor Terrett suggests that a green light for a spot Bitcoin ETF in early January is improbable.
Instead, she predicts the SEC will likely communicate the final Form S-1 filing date, akin to the schedule observed for Ethereum (ETH) futures ETFs last October, allowing applicants 24 to 48 hours to prepare for a potential Jan. 10 launch.
Approximately twelve asset managers are vying to introduce spot Bitcoin ETFs on exchanges such as Nasdaq, Cboe BZX, and NYSE Arca.
This development comes amidst heightened anticipation within the trading community regarding the potential approval of the first Bitcoin ETF in the U.S. Such approval would enable investors to access a product tracking Bitcoin‘s price without direct ownership, potentially attracting larger institutional investors.
Recent updates to registration forms by BlackRock and other potential spot Bitcoin ETF issuers for their proposed Bitcoin ETFs, including authorized participant names, have intensified speculation. Investors interpret these details as indications of an imminent decision from the SEC. Despite the optimism, industry experts anticipate the formal approval of these funds in January.
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