In anticipation of the approaching Jan. 10 cutoff for the SEC’s verdict on the Ark Investments and 21Shares spot Bitcoin ETF proposal, reports from Reuters suggest that asset managers may receive word on their own applications by next Tuesday or Wednesday.
According to sources familiar with the matter, asset managers who met their year-end deadlines might gain the green light to launch their offerings by the critical Jan. 10 decision. This includes prominent firms such as Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco, in addition to the previously mentioned applicants.
Among the 14 contenders seeking approval for similar ETFs, some have already furnished the SEC with detailed documentation, outlining sponsor fees and other technical specifics. Notably, Fidelity’s proposed ETF boasts the lowest suggested sponsor rate at 0.39%, while many firms are yet to disclose their intended rates.
Analysts foresee the approval of spot Bitcoin ETFs as a catalyst for ushering in heightened institutional investment within the cryptocurrency industry. This move is expected to mark a significant milestone, potentially unlocking substantial inflows of institutional capital into the crypto space.
