The SEC has been hesitant about approving spot Bitcoin ETFs, expressing concerns about potential fraud. However, there’s optimism among market participants for an approval in the near future.
BlackRock, the biggest asset manager globally, initially aimed to redeem baskets in Bitcoin or ‘in-kind.’
A spot crypto ETF mirrors the actual market price of the crypto asset it’s tied to, offering investors exposure to the token without the need to directly purchase the currency
