The Securities and Exchange Commission (SEC) of the United States is expected to issue a positive signal regarding the approval of spot Bitcoin exchange-traded funds (ETFs).
This development may pave the way for several asset management firms, such as Ark Investments, 21Shares, Valkyrie, and others, to launch ETFs as early as January 10.
The possibility of approval has sparked excitement in the crypto industry, with experts predicting increased institutional investor participation.
According to industry experts, the SEC may soon notify asset managers of the approval of spot Bitcoin ETFs. Notably, several firms, including Ark Investments and 21Shares, submitted proposals before the year’s end.
The SEC’s decision could have far-reaching consequences for the crypto market, attracting institutional investors and encouraging increased investment.
Some of the 14 asset managers vying for ETF approval have already revealed information such as sponsor fees and technical plans.
Fidelity’s proposed ETF has the lowest sponsor rate of 0.39%, while other firms have yet to reveal their rates. The competition among asset managers reflects the growing interest among investors in offering Bitcoin ETFs.
Analysts believe that the SEC’s approval of Bitcoin ETFs will have a significant impact on the cryptocurrency industry.
The introduction of these ETFs is expected to entice more institutional investors, resulting in larger investments in the crypto market.
This potential infusion of institutional capital is viewed as a significant step toward crypto mainstream adoption.
