Source: Web3 Frontier
Valid S-1 approval is under review, which means the spot Bitcoin ETF will begin trading as early as January 11.
Bloomberg ETF analyst James Seyffart said that following the SEC’s approval of 11 spot Bitcoin ETFs, spot Bitcoin ( BTC ) exchange-traded funds (ETFs) may start on January 11 trade.
Seyffart posted on "No more measures are needed," he said. "Everyone will be ready for tomorrow."
We see many prospectuses is taking effect. S-1 approval is pending.
19b-4 Approval
Effective Prospectus (S-1)
These things will indeed begin trading tomorrow. No more steps required pic.twitter.com/YmYyw8b0C9
— James Seyff (@JSeyff) January 10, 2024
Seyffart told Cointelegraph on January 2 (before the ETF was approved) that he expected the spot Bitcoin ETF to launch within "a few days" of approval. However, following the approval of the spot Bitcoin ETF, he updated his statement to say they could begin trading within one day of receiving the approved S-1. When they started pouring in, he updated his prediction again.
Previous cryptocurrency-related ETF products typically launched within two weeks of approval.
This is different from futures ETFs. The process is different. So in theory it could take a few weeks [...] but I think it will take a few days," Seyffart added in a previous interview.
Meanwhile, global fund manager VanEck previously Approximately $2.4 billion is expected to flow into spot Bitcoin products in the first quarter of 2024.
Looking at the bigger picture, cryptocurrency investment fund Bitwise predicts that spot Bitcoin ETFs will be the largest ever launched ’s “most successful” ETF product and could manage up to $72 billion worth of assets within five years.
However, not everyone is convinced that a Bitcoin ETF will break records so quickly. VanEck Advisors Gabor Gurbacs believes that a Bitcoin ETF may be viewed as "disappointing" in its early days, but could bring trillions of dollars' worth of new capital to the industry in the long run.
< p lang="en" dir="ltr">My view on $2.5 trillion in Bitcoin flow is very simple. Global assets are about $500 trillion. Assume 0.5 % global allocation implies $2.5 trillion in flows plus long-term appreciation, plus the additional funding and FoF investment and credit that comes with it.
What if… pic.twitter.com/ SYOASiHUg3— Gabor Gurbacs (@gaborgurbacs) January 8, 2024
This time The approval paves the way for traditional financial giants, including multi-trillion dollar companies like BlackRock and Fidelity, to launch an investment vehicle that offers institutional investors in the United States the first regulated Bitcoin investment in U.S. history .
Despite speculation surrounding the fund's short-term performance, analysts agree that spot ETFs will benefit Bitcoin prices in the long run. Cryptocurrency investment firm Galaxy Digital predicts that Bitcoin trading volume will be It’s up at least 74% at the beginning of the year.
Bitcoin is currently trading at $46,410, up 1.52% from when the ETF was approved.