The SEC, which evaluated applications from 14 asset managers for the Spot Bitcoin ETF, said it may notify these companies of its decision early next week before the launch on January 10.
This decision is extremely important for the financial world and the cryptocurrency market. Bitcoin-based ETFs will be an important step towards further integrating the crypto market into the world of traditional finance and will mark the official entry of financial institutions into the world of Bitcoin.
According to Reuters, if approved by the SEC, Bitcoin Spot ETF will be able to trade on Tuesdays or Wednesdays of the week.
Another issue that stands out in this process is the intensity of competition. Sponsorship fees and other technical details are also on the agenda among 14 asset management companies competing to approve similar ETFs, Reuters sources said. For example, the ETF recommended by Fidelity currently has the lowest sponsorship fee at 0.39%. However, many companies have not yet announced their wages.
