Anticipating SEC's Approval: Bitcoin ETFs Post-Close Today

• SEC Anticipated to Approve Spot Bitcoin ETF Applications
• Spot Bitcoin ETFs to Commence Trading Soon?
• Intense Competition amongst ETFs
• Price Predictions Post Bitcoin ETF Approval

SEC Anticipated to Approve Spot Bitcoin ETF Applications

The US Securities and Exchange Commission (SEC) is projected to approve Spot Bitcoin$42,260 -0.64% ETF applications after the stock exchange closing bell today, says a senior executive of a corresponding firm. Fox Business predicts that the first approvals could be granted shortly after 4:00 pm ET today, aligning with initial forecasts that the approvals would roll out on Wednesday.

Spot Bitcoin ETFs to Commence Trading Soon?

The CBOE reports that Spot Bitcoin ETFs might commence trading as early as tomorrow. Presently, over a dozen applications for this investment product are awaiting approval. The deadline for potential issuers falls on today. According to preliminary updates, the SEC is expected to endorse multiple applicants.

Intense Competition amongst ETFs

A fierce competitive landscape is anticipated as the SEC is expected to authorize numerous Spot Bitcoin ETFs. This competition has already reared its head in the advertising wars that began prior to approvals. Competition also continues in pricing, with asset management companies such as BlackRock, Fidelity, and Grayscale vying to outdo each other's pricing schemes for investment firms.

Price Predictions Post Bitcoin ETF Approval

In related news, global financial giant Standard Chartered posits that Bitcoin (BTC) could hit a $200,000 valuation by the close of 2025, following Bitcoin ETF approval. It is estimated that US-listed spot BTC ETFs will hold between 437,000 and 1.32 million Bitcoin by the end of this year.

Edited by Jonathan Stoker