SEC Could Approve Spot Bitcoin ETFs as Early as Next Week

Amidst SEC’s impending decisions, 14 asset managers vie for spot Bitcoin ETF approval, potentially reshaping cryptocurrency investments.

Gary Gensler sitting in the dark looking at a sand clock as time passing by.
Created by Gabor Kovacs from DailyCoin
  • The SEC is said to have prepared early notifications for select asset managers regarding their ETF applications.
  • The race for the spot Bitcoin ETF approval has heated up among major financial players.
  • Anticipation has been mounting as major firms have vied for spot Bitcoin ETF approval.

The Securities and Exchange Commission (SEC) reportedly plans to notify 14 asset managers vying for approval of spot Bitcoin exchange-traded funds (ETFs) as early as Tuesday or Wednesday of next week. This could pave the way for the launch of these ETFs by January 10, 2024, when the SEC’s decision deadline arrives.

SEC Set to Notify Asset Managers on ETF Applications Early

According to a Reuters report, the SEC could notify the 14 asset managers vying for approval of their spot Bitcoin ETF applications as early as Tuesday or Wednesday of next week. This would allow those asset managers to launch their ETFs by the January 10 deadline for the SEC’s decision on the Ark Investments and 21Shares spot Bitcoin ETF proposal.


The report cites sources familiar with the process, stating that several firms, including Ark Investments, 21Shares, Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco, could be among the first to launch.

Asset Managers Vie for Approval with Competitive Fee Structures

Some asset managers have already submitted forms to the SEC detailing sponsor fees and other technical aspects of their proposed ETFs. Fidelity holds the lowest proposed sponsor rate at 0.39%, while many others have yet to reveal their planned fees.

Analysts believe approving spot Bitcoin ETFs would open the door to significant institutional investment in the crypto market. This could boost Bitcoin’s price and further legitimize its position as a store of value and a potential asset class.

On the Flipside

  • The approval of spot Bitcoin ETFs could introduce higher market volatility due to increased speculative trading activities associated with ETFs.
  • While ETFs could attract institutional money, they could also amplify the impact of any market downturn, potentially leading to significant losses for investors.

Why This Matters

The imminent notification from the SEC to 14 asset managers for spot Bitcoin ETF approval signifies a potential milestone in legitimizing cryptocurrencies within traditional financial systems.


To learn more about how the crypto derivatives market is booming amidst the looming ETF approval, read here:
Crypto Derivatives Market Roars as ETF Approval Looms

To understand how crypto funds are cashing in ahead of the spot Bitcoin ETF launch, read here:
Funds Cash In Ahead of Spot Bitcoin ETF Approval. Will BTC Pull Back?

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.