Navigating the SEC Filing
Fidelity's Wise Origin Bitcoin Fund filed Form 8-A, a standard ETF registration step. Analyst James Seyffart clarifies this doesn't secure immediate ETF approval, citing similar initial moves by Bitwise as precedents.
Long Pursuit of a Spot BTC ETF
Despite leading asset managers' applications, including Bitwise and WisdomTree, the SEC hasn't approved a US-based spot BTC ETF. Approval for BTC and ETH futures investment vehicles has been granted, a cautious yet progressive step.
Awaiting Potential Approvals
Speculation mounts around possible approvals for spot BTC exchange products. Industry anticipates the January 10 ARK Invest and 21Shares' crypto investment vehicle deadline. A spot Bitcoin ETF approval could reshape crypto adoption and blockchain acceptance.
Impact of SEC Approval
The approval of a spot Bitcoin ETF could revolutionize the crypto sphere, fostering wider cryptocurrency adoption and legitimizing blockchain tech in mainstream finance. Industry experts anticipate this milestone for wider financial acceptance.