Yesterday saw another frenzy of updates to ETF filings, with Wisdomtree, Invesco, Valkyrie, and Bitwise once again lowering their fees. Currently, there are five issuers offering significant discounts on initial management fees. The market expects the SEC to make a decision on Wednesday evening (1/10), and Bloomberg ETF analyst Jamse Seyffart predicts that 11 Bitcoin spot ETFs will officially launch on Thursday.
Approval likely at 6 a.m. Taiwan time on 1/11
According to The Block’s report, VanEck CEO Jan van Eck and Valkyrie both stated in interviews that the SEC will approve Bitcoin spot ETFs at the end of Wednesday’s trading day, with trading set to begin on Thursday!
Bloomberg ETF analyst Eric Balchunas also provided real-time updates on various data yesterday, revealing that all parties submitted applications, comments, and resubmissions at an unprecedented speed within 24 hours, indicating everyone’s desire for this performance to start quickly. Balchunas also believes that the SEC will announce the results at 4 or 5 p.m. U.S. time on 1/10 (which is 5 or 6 a.m. Taiwan time on 1/11), and the ETFs will launch on Thursday (1/11).
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Bitcoin spot ETF
Further reading
SEC’s false tweet causes market turmoil, Gary Gensler’s tweet gets uploaded, Senator: Congress needs an explanation
SEC hacked with false news! On the eve of Bitcoin spot ETF approval, SEC Chairman Gary Gensler performed market manipulation.