Multiple Spot Bitcoin ETFs Set for SEC Approval: A Game Changer

• Upcoming SEC Decision on Multiple Spot Bitcoin ETFs
• Expectations for Multiple Approvals
• Melinek's Prediction of Early Decision
• Final Preparations by Various Firms

Upcoming SEC Decision on Multiple Spot Bitcoin ETFs

As the deadline for the US Securities and Exchange Commission (SEC) decision on Spot Bitcoin$42,260 -0.64% Exchange-Traded Funds (ETFs) nears, reports are hinting at the likely approval of multiple applications. Industry insiders, including Jacquelyn Melinek of TechCrunch, have suggested that several firms' applications might get the green light as early as next week. Predictions for the decision range between January 8th and 10th, despite some early week reports suggesting otherwise. Nonetheless, the consensus anticipates a positive outcome, marking the launch of the first Spot Bitcoin ETF in the United States.

Expectations for Multiple Approvals

The digital asset market has been rife with speculation over the US's first Spot Bitcoin ETF for several months. With over a dozen contenders, the looming deadline for this potential investment vehicle has intensified anticipation. Notably, Jacquelyn Melinek, a TechCrunch insider, has mirrored these expectations. Her forecasts indicate that the SEC will not favor one issuer over another, suggesting a barrage of simultaneous approvals.

Melinek's Prediction of Early Decision

In a separate update on X (formerly Twitter), Melinek encouraged her followers to expect something on Friday, which coincides with the start of the decision period. However, a majority are predicting that approvals will be deferred to early next week, particularly between January 8th and 10th.

Final Preparations by Various Firms

Several firms are wrapping up their final registrations ahead of the anticipated approvals. Entities such as Fidelity, Grayscale, and VanEck have all submitted applications for securities with the SEC. Furthermore, firms like Goldman Sachs are pursuing key roles in multiple Spot Bitcoin ETFs. Taken together, these developments suggest that the approval of the ETFs is not a question of if, but when.

Edited by Jonathan Stoker