Spot Bitcoin Etf Close To Approval

last updated on

Spot Bitcoin Etf Close To Approval

Blackrock'S Spot Bitcoin Etf Very Close To Approval

All the big players who filed for the Spot Bitcoin ETF are now trying to attract capital by offering the lowest fees. Grayscale has decided to set a fee of 1.5%, the highest of all, while Bitwise has put it at 0.24%, the lowest!

The 10th January deadline is just around the corner as the SEC is expected to approve just one or all of the applications for Bitcoin ETF. According to one expert, the SEC will likely delay the securities products.

Refilling Of S-1 Form

For now, one of the most prominent players is BlackRock, which has a stellar reputation in asset management. Per the details, the SEC comments forced them to go with S-1 form refilling.

As for what's changed, a senior expert said that it is rather difficult to highlight all the significant changes. However, what's more important is that the change was made within 24 hours.

Another expert highlighted that there's a battle going on between the different filers of the spot Bitcoin ETF application. They are all trying to attract the most investors by lowering their management fees.

Since the Bitcoin ETF will be the first of its kind, there's also no way to gauge past performance. In that regard, the investors will likely go with the hedge funds' reputation and competitive rates.

One expert highlighted that the amendments and refiling don't automatically mean a delay. Conversely, the Chamber of Digital Commerce's CEO said a delay is on the cards.

Monday's session saw the spot Bitcoin prices cross the $47200 level as the crypto traders are anticipating the approval of the Bitcoin ETFs. Approval of just one or several ETFs will open the doors for institutional investors to dabble in cryptocurrency.

Throughout January, the prices of Bitcoin remained above the $42K support level, which suggests that the next stop for the bulls is now $50,000.

Trending Stories