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The United States Securities and Exchange Commission (SEC) has reportedly reviewed six spot bitcoin exchange-traded fund (ETF) applications, the first step before officially approving or rejecting them.
Finance giants including BlackRock and Fidelity Digital Assets have recently displayed ambition to launch such ETFs, fueling excitement in the crypto space and a positive impact on the market.
waiting for the next step
As informed of Per Reuters, the US securities regulator has formally accepted applications from BlackRock, VanEck, WisdomTree, Fidelity Digital Assets, Bitwise and Invesco, all of which applied to offer spot BTC ETFs in the US.
Despite previous efforts by other companies, the commission has failed to greenlight that type of product.
While the agency is still considering its decision regarding launching the spot BTC ETF in the states, it has already given positive approval on futures. This allowed ProShares Bitcoin Strategy ETF in October 2021 – weeks before bitcoin’s ATH of around $70,000.
Could The Spot BTC ETF See The Light Of Day?
Having BlackRock’s name among the candidates with ambitions to release such a product seemed like a game changer. After all, the company has filed Of the 576 ETF applications with the SEC in its entire history, it has seen only one rejection.
Several prominent individuals believe that this time around the watchdog will finally say “yes” to the Spot BTC ETF, an example of which is Jay Clayton, the former chairman of the US SEC. He Claimed The agency will likely approve the product if interested parties can prove that it is sufficiently safe for investors:
American concluded, “If you can demonstrate that the spot market has the same efficacy as the futures market, then it will be difficult to avoid approving a bitcoin ETF.”
Galaxy Digital founder Mike Novogratz stands on that corner. According to him, such an approval could lead to mass adoption by investors who were previously unable to join the ecosystem.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
The United States Securities and Exchange Commission (SEC) has reportedly reviewed six spot bitcoin exchange-traded fund (ETF) applications, the first step before officially approving or rejecting them.
Finance giants including BlackRock and Fidelity Digital Assets have recently displayed ambition to launch such ETFs, fueling excitement in the crypto space and a positive impact on the market.
waiting for the next step
As informed of Per Reuters, the US securities regulator has formally accepted applications from BlackRock, VanEck, WisdomTree, Fidelity Digital Assets, Bitwise and Invesco, all of which applied to offer spot BTC ETFs in the US.
Despite previous efforts by other companies, the commission has failed to greenlight that type of product.
While the agency is still considering its decision regarding launching the spot BTC ETF in the states, it has already given positive approval on futures. This allowed ProShares Bitcoin Strategy ETF in October 2021 – weeks before bitcoin’s ATH of around $70,000.
Could The Spot BTC ETF See The Light Of Day?
Having BlackRock’s name among the candidates with ambitions to release such a product seemed like a game changer. After all, the company has filed Of the 576 ETF applications with the SEC in its entire history, it has seen only one rejection.
Several prominent individuals believe that this time around the watchdog will finally say “yes” to the Spot BTC ETF, an example of which is Jay Clayton, the former chairman of the US SEC. He Claimed The agency will likely approve the product if interested parties can prove that it is sufficiently safe for investors:
American concluded, “If you can demonstrate that the spot market has the same efficacy as the futures market, then it will be difficult to avoid approving a bitcoin ETF.”
Galaxy Digital founder Mike Novogratz stands on that corner. According to him, such an approval could lead to mass adoption by investors who were previously unable to join the ecosystem.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
