Bitcoin ETFs Set to Explode As SEC Approval Expected Thursday Morning (Or Is It?)

Mark your calendars for January 10th, as tomorrow could be a defining moment for spot Bitcoin exchange-traded funds (ETFs). If all unfolds as expected, the crypto market could see a surge in trading by Thursday morning!

Excited? You should be! Here’s all the details you need.

SEC’s Possible Green Light

The crypto community is buzzing with speculation that the U.S. Securities and Exchange Commission (SEC) might approve spot Bitcoin ETFs as early as Wednesday. Such a move could open the floodgates for multiple issuers to launch their ETFs by Thursday.

Industry experts closely monitor the SEC’s 19b-4 filings, viewing them as pivotal for ETF approval. Positive interactions between the SEC and issuers regarding these filings suggest a favorable climate. Former SEC Chair, Jay Clayton, recently added fuel to the fire, with a statement on CNBC’s Squawk Box.

“Bitcoin ETF approval is inevitable, there’s nothing left to decide.”

Ahead of the SEC’s deadline, attention is also on the fee structures of ETF issuers. Bitwise stands out with a fee of 0.24%, followed closely by Ark 21Shares and VanEck at 0.25%.

But Wait… Hurdles Ahead?

Despite the optimism, Perianne Boring, President of the Chamber of Digital Commerce, warns that the SEC could employ various tactics to delay or block ETF approvals under Chair Gary Gensler’s leadership.

A potential caveat emerges as a 5-member SEC Commission could introduce delays to spot Bitcoin ETF approval. Even for things granted through delegated authority, each commissioner, including Gary Gensler, Caroline Crenshaw, Hester Peirce, Jaime Lizarraga, and Mark Uyeda, retains the right to request a comprehensive examination and commission vote. 

As the industry awaits the SEC’s decision, the regulatory landscape remains fluid. With both challenges and optimism in the air, stakeholders are closely monitoring the unfolding developments.

So, will tomorrow be a watershed moment for Bitcoin ETFs? Tell us what you think.