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Latest News  + Alternative Assets  + Asset Management  + Crypto  + Crypto  + ETFs  + Markets  |  January 8, 2024
BTC Spot ETF Approval Expected This Week
Joe Palmisano
By: Joe Palmisano

BTC Spot ETF Approval Expected This Week

Bitcoin Spot ETFs are likely to receive the US financial regulator’s approval as early as this week, according to several media outlets. Bitcoin holders are awaiting the Securities and Exchange Commission’s (SEC) greenlight with the deadline on January 10.

The first stage in approval of a spot Bitcoin ETF would be the SEC signing off on 19b-4 filings by the exchanges planning to list the ETFs, all of which were submitted by 6pm ET on Friday.

The SEC would then have to approve the issuers’ S-1 applications; if both are authorized, the ETFs could theoretically begin trading the following business day.

Bloomberg reports that insiders speculate the regulator will use the January 10 deadline to announce their decision on several Spot Bitcoin ETF applications at once. Nearly a dozen applicants are awaiting the SEC decision and have lined up seed capital and marketed their Spot BTC ETF product.

Eleven of the asset managers that have applied for permission to launch a spot Bitcoin ETF filed 19b-4 amendments on January 5. The filers included BlackRock, Valkyrie, Grayscale, Bitwise, Hashdex, ARK Invest and 21Shares, Invesco and Galaxy, Fidelity, Franklin Templeton, VanEck and WisdomTree.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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