Spot Bitcoin ETFs: SEC Meetings and Market Speculations

The SEC held meetings with BlackRock Inc. and Grayscale Investments to discuss a proposed rule for a Bitcoin exchange-traded fund (ETF). BlackRock presented two ETF models, discussing in-kind and in-cash redemption approaches. The SEC memo outlined these talks and also included discussions with Nasdaq Stock Market personnel regarding the iShares Bitcoin Trust’s listing.

Presently, available Bitcoin ETFs use futures contracts, with potential price disparities and higher management fees. A spot Bitcoin ETF might be a more appealing choice, likely drawing in investors for its direct Bitcoin exposure.

The SEC’s response to the presentations and discussions remains uncertain. A final determination is expected in early 2024, with JPMorgan highlighting Jan. 10 as a crucial date for potential decisions on multiple applications.

Various firms, including BlackRock, Grayscale, Fidelity Investments, WisdomTree Inc., Ark Invest, and 21Shares, have met with the SEC and submitted spot Bitcoin ETF applications. These applications, submitted mainly in June, have seen subsequent amendments over recent months.

Speculations suggest that once approved, multiple ETFs might simultaneously launch due to their similarity with nuanced differences.

Investors are eagerly awaiting the release of spot Bitcoin ETFs. Historical data indicates that when BlackRock submitted its application in June, Bitcoin’s price surged by over $5,000 within a week. The ongoing anticipation drove Bitcoin to reach a 52-week high of nearly $40,000.

For those interested in buying Bitcoin before the potential ETF release, Kraken is a recommended option for its security, user-friendliness, low fees, 24/7 customer service, and various features like staking, advanced trading, NFTs, and margin trading.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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