Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The growing anticipation surrounding the Bitcoin spot Exchange Traded Fund (ETF) product has been sparking a lot of curiosity from members of Crypto X. One of the major inquiries hovers around the timeline the product, if approved, will begin trading on public exchanges. Bloomberg ETF analyst James Seyffart has shared his insights on this, noting that there is no way to know what the timeline is for certain.
In the race to get Bitcoin ETF approval, James Seyffart highlighted that both the 19b-4 and S-1 filings are important for full-blown consideration. While he believes securing a green light for 19b-4 will come without much hassle, he said it could take anywhere between a day or two for the approval to begin trading to go live.
The Bloomberg analyst said that should the approval for both filings come, the gap between this approval and the proper launch will be small. From current indications, marked by ongoing meetings between the applicants and SEC officials, Seyffart is unsure if the S-1 filings are ready to be approved for now.
With the likes of Hashdex and BlackRock meeting with the SEC this week, Seyffart is convinced both parties can get the details worked out.
Bitcoin ETF as market changer
The demand to get a spot Bitcoin ETF product trading in the United States is more than a decade-long pursuit at the moment. With other countries like Canada, Germany and even Brazil pioneering the launch of this product, many market experts have postulated that a launch of BTC ETF in the U.S. will be the ultimate game-changer the crypto market needs.
It is worth noting that a Bitcoin ETF would provide the right vehicle for institutional investors to gain exposure to Bitcoin without the complicated custody stress. Should the product be approved, at least $100 billion worth of products are billed to be injected in, an inflow that can impact the price considerably.
Arman Shirinyan
Alex Dovbnya
