Prospects for Spot Bitcoin ETF Approval Brighten, Yet Launch Could Be Postponed
While a dozen asset managers have applied for a spot Bitcoin ETF with the SEC and the initial approval window is set to open on November 8, analysts forecast that even with approval, the real launch might see a month’s delay due to the ETF’s two-tier launch process. This involves obtaining SEC clearance from the Trading and Markets division and the Corporate Finance division. Despite nine of the twelve Bitcoin ETF applications having presented revised prospectuses, any SEC approval of the 19b-4 permissions before the prospectus documents are finalized could cause further delays. The first spot Bitcoin ETF has an approval window of November 8 to 17, and while speculation of approval has risen to 90%, market experts anticipate approval might not be granted until the start of next year.
