IntoTheBlock, a leading crypto analytics platform, has released a game-changing report diving into the imminent arrival of Bitcoin spot ETFs. According to the report, a staggering 13 investment tools are expected to enter the ETF market by March 2024, signaling a significant shift in financial innovation.
The report points out major contenders in this landscape, with industry giants like BlackRock, Invesco Galaxy, Franklin Templeton, and Fidelity gearing up to introduce their Bitcoin spot ETFs. Assets under management are anticipated to reach unprecedented levels as these institutions enter the market.
Market sentiment is largely optimistic, eagerly anticipating the approval of a Bitcoin ETF. A joint proposal from ARK Invest and 21 Shares seems to be leading the race, with regulatory responses expected in early January, and their ARKB ETF potentially hitting the market by Jan. 10.
Drawing from the SEC’s past actions, as seen with the simultaneous approval of nine Ethereum futures ETFs in October, IntoTheBlock suggests a possible regulatory strategy. This might involve a consolidated approval approach to streamline the review process within a specific timeframe, rather than individual application assessments.
Recent discussions between the SEC and asset managers, as reported by Reuters and industry experts, hint at a focus on crucial technical details. This signals a positive direction, indicating the SEC’s potential approval of these transformative financial products as the countdown to March 2024 progresses.
