Grayscale and Ark Invest Move Closer to Spot Bitcoin ETF Approval
Grayscale and Ark Invest, along with Fidelity, have filed 8-A forms to signal the potential approval of spot Bitcoin ETFs by the Securities and Exchange Commission (SEC).
Other Players Involved in the Filing
Valkyrie and VanEck have also filed, showing registration to allow issuers to trade on an exchange, which aims to ensure compliance with SEC requirements.
Grayscale’s Push for Approval with GBTC Listing
Grayscale listed its Bitcoin Trust (GBTC) on a retail-facing website, hinting at its anticipation for approval.
Clues from Bitcoin Prices and Forward-looking Investing
James Butterfill suggests that the market pricing of $1 billion seed money into spot Bitcoin ETFs may be an indication, as Jacquelyn Melinek sources hint at potential approval announcements for multiple firms.
Market Reaction and Waiting for Potential News
Bitcoin is trading at $43,553, with cautious market anticipation for potential approval, despite concerns following a report that the applications would be denied.
Waiting for the Final Verdict
If news doesn’t come soon, they may have to wait until the hard deadline on January 8 for potential approval orders, according to James Seyffart.
Closing with a Personal Take
You can explore Bitcoin Minetrix, a cloud-mining project that allows you to be part of the next Bitcoin bull run. Their stake-to-mine approach brings Bitcoin mining closer to individuals.
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