©Reuters
NEW YORK – As the Securities and Exchange Commission (SEC) moves closer to a decision on the potential approval of a spot bitcoin exchange-traded fund (ETF) in the United States, anticipation has sparked a wave of optimism among investors, with significant implications for the cryptocurrency market. The SEC is expected to make its decision by January 10, 2024.
John Palmer, executive at CBOE Digital, expressed his expectations for increased investment flows into , particularly from pension funds and RIA-based entities. He discussed the benefits of a possible one-time approval of the Bitcoin ETF, which would facilitate direct bitcoin investments for these entities and boost institutions’ use of managing financial instruments through derivatives.
In anticipation of the SEC’s upcoming action, issuers have updated their applications to comply with the SEC’s provisions. These updates include the inclusion of authorized participants and the implementation of cash-only creation processes.
Along with these expectations, the value of bitcoin has exceeded the $45,000 threshold. This upward trend is further reinforced by the interest shown by investment giants BlackRock Inc. and Fidelity.
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