In a groundbreaking revelation, leading crypto analytics platform IntoTheBlock has unveiled a comprehensive report delving into the highly anticipated launch of Bitcoin spot ETFs.
The report predicts that a staggering 13 investment instruments will flood the ETF market by March 2024, ushering in a new era of financial innovation.
Among the major players, BlackRock, boasting an impressive $9.4 trillion in assets under management, leads the charge. Notable financial institutions like Invesco Galaxy, Franklin Templeton and Fidelity are also gearing up to introduce their own Bitcoin spot ETFs, with assets under management reaching mind-boggling figures.
Taking the lead in the race is a joint proposal from ARK Invest and 21 Shares. The report indicates that regulatory responses for all applications are expected in the first decade of January, with ARKB ETF from these two prominent investment companies slated to hit the market as early as Jan. 10.
IntoTheBlock highlights a potential regulatory strategy by the SEC, drawing parallels to the simultaneous approval of nine Ethereum futures ETFs in October. The regulator may opt for a consolidated approval approach, avoiding individual application reviews within a set time frame.
As the countdown to March 2024 unfolds, recent discussions between the SEC and asset managers, as reported by Reuters and citing industry experts, suggest a focus on key technical details. This development serves as a promising sign that the regulatory agency may soon grant approval for these transformative financial products.
Godfrey Benjamin
Alex Dovbnya
