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- The window for the approval of spot Bitcoin ETFs will open in lower than 20 days.
- Twelve out of the 13 spot Bitcoin functions listed by Crypto Rover had been submitted this yr.
- A lot of the proposed spot Bitcoin ETFs have Coinbase as their custodian.
The window for the approval of spot Bitcoin ETFs will open in lower than 20 days, and the cryptocurrency influencer, Crypto Rover, has posted an inventory of the pending ETF filings with their respective particulars. In a latest put up on X (previously Twitter), the famend influencer shared a tabulated screenshot of the issuer, asset, trade, custodian, and different particulars of the pending ETF functions submitted to the Securities and Trade Fee (SEC).
Twelve out of the 13 spot Bitcoin functions listed by Crypto Rover had been submitted this yr, with the newest amongst them filed as not too long ago as December 5. Just one software was filed earlier than 2023, the Grayscale Bitcoin Belief, a re-file submitted on October 19, 2021.
Grayscale’s newest submitting is a conversion of an present Grayscale Bitcoin Belief (GBTC) that makes the flagship digital foreign money accessible for particular person and institutional buyers. It differs from the extra well-liked direct funding, the place customers should purchase Bitcoin immediately from exchanges and buying and selling platforms. The GBTC affords a extra conventional funding within the type of shares.
The SEC has not launched a brand new deadline for Grayscale ETF approval after the expiration of the earlier deadline on October 13. Nevertheless, the deadline for many different functions falls inside the first quarter of 2024. Solely two functions have deadlines firstly of the second quarter, whereas Pando’s software is scheduled for Q3 2024.
Crypto Rover’s put up confirmed that many of the proposed spot Bitcoin ETFs have Coinbase as their custodian, whereas eight out of 13 of them selected the Chicago Board of Exchanges (CBOE) because the trade to serve their function.
Most crypto customers count on the spot Bitcoin ETF approval to be one of many important occasions that might mark the following bull cycle, along with the upcoming Bitcoin halving anticipated to occur within the first quarter of 2024.
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