All approved, all denied, or somewhere in between based on the applications from asset managers? Nothing is set in stone with the SEC when it comes to spot Bitcoin ETFs.
Many are expecting the United States Securities and Exchange Commission (SEC) to approve listing shares of a spot Bitcoin (BTC) exchange-traded fund on exchanges for the first time by Jan. 10. Even if the regulator should move forward with a decision to approve, there are many possibilities to what approval may look like.
Despite all positive signs pointing to approval, at the time of publication, there is no absolute guarantee that the SEC will still decide to give the green light to a spot Bitcoin ETF. Several asset managers completed some of the last stages of paperwork in filing form 19b-4 amendments on Jan. 5 and amended form S-1 filings on Jan. 8.
Historically, the SEC has never approved a spot cryptocurrency exchange-traded product for U.S. exchanges, and only in 2021 started to allow ETFs with exposure to crypto futures. An October court ruling forced the commission to revisit a spot Bitcoin ETF application from Grayscale Investments, but this would presumably still allow the SEC to deny an investment vehicle for different reasons.
