Upcoming Launch of Spot Bitcoin ETFs for Trading on Thursday Morning

Spot Bitcoin ETF Approval Expected This Week

According to sources familiar with the matter, spot bitcoin exchange-traded funds (ETFs) could receive regulatory approval from the U.S. Securities and Exchange Commission (SEC) as early as Wednesday. This could pave the way for multiple funds to start trading on Thursday morning.

Anticipated Approval Timeline

An Axios report states that conversations with the SEC confirm a potential approval timeline of Wednesday. However, the final decision still rests with the regulator.

S-1 Filings and Trading Start Date

The SEC is expected to declare S-1 filings for spot Bitcoin ETF issuers, which would allow these funds to begin trading on Thursday morning, according to insiders.

Importance of 19b-4 Filings

Experts view 19b-4 filings as a crucial indicator for spot Bitcoin ETF approval. The fact that the SEC has not requested 19b-4 amendments suggests that they are open to allowing the trading of these funds.

Fees and Deadline

Among the 10 spot Bitcoin ETF issuers, Bitwise has the lowest fees at 0.24%, followed by Ark 21Shares and VanEck at 0.25%. The SEC has until Wednesday, January 10, to approve or decline Ark 21Shares Bitcoin ETF (ARKB).

Potential Caveats and Delays

The SEC has issued additional comments on pending spot Bitcoin ETF applications, indicating that more amendments may be required. Chamber of Digital Commerce President Perianne Boring believes that SEC Chair Gary Gensler may use various tools to block spot Bitcoin ETFs. Additionally, a review and full commission vote can be requested by any of the five SEC commissioners, potentially causing further delays.

Hot Take: Spot Bitcoin ETFs Poised to Revolutionize Crypto Trading

If spot Bitcoin ETFs receive regulatory approval this week, it could mark a significant milestone in the cryptocurrency industry. These ETFs would provide easier access to Bitcoin trading for investors, potentially leading to increased adoption and market liquidity. The lower fees offered by some issuers could also attract more participants. However, potential delays and caveats highlight the regulatory challenges that still exist. Overall, the introduction of spot Bitcoin ETFs has the potential to revolutionize crypto trading and bring more legitimacy to the asset class.