Spot Bitcoin ETFs Approval Window Opens in Less Than 20 Days

The window for the approval of spot Bitcoin ETFs will open in less than 20 days, and the cryptocurrency influencer, Crypto Rover, has posted a list of the pending ETF filings with their respective details. In a recent post on X (formerly Twitter), the renowned influencer shared a tabulated screenshot of the issuer, asset, exchange, custodian, and other details of the pending ETF applications submitted to the Securities and Exchange Commission (SEC).

Twelve out of the thirteen spot Bitcoin applications listed by Crypto Rover were submitted this year, with the latest among them filed as recently as December 5. Only one application was filed before 2023, the Grayscale Bitcoin Trust, a re-file submitted on October 19, 2021.

Grayscale’s latest filing is a conversion of an existing Grayscale Bitcoin Trust (GBTC) that makes the flagship digital currency available for individual and institutional investors. It differs from the more popular direct investment, where users can purchase Bitcoin directly from exchanges and trading platforms. The GBTC offers a more traditional investment in the form of shares.

The SEC has not released a new deadline for Grayscale ETF approval after the expiration of the previous deadline on October 13. However, the deadline for most other applications falls within the first quarter of 2024. Only two applications have deadlines at the beginning of the second quarter, while Pando’s application is scheduled for Q3 2024.

Crypto Rover’s post showed that most of the proposed spot Bitcoin ETFs have Coinbase as their custodian, while eight out of thirteen of them chose the Chicago Board of Exchanges (CBOE) as the exchange to serve their purpose.

Most crypto users expect the spot Bitcoin ETF approval to be one of the significant events that would mark the next bull cycle, in addition to the upcoming Bitcoin halving expected to happen in the first quarter of 2024.