Alongside Valkyrie, ten other firms, including BlackRock, Grayscale, Bitwise, Hashdex, ARK 21Shares, Invesco Galaxy, Fidelity, Franklin Templeton, VanEck, and WisdomTree, have also applied for the spot product. The introduction of Bitcoin ETFs is projected to entice fresh investors and attract billions of dollars within their first year on the market. As a result, the price of Bitcoin has seen a significant surge in anticipation of this development.
“We haven’t received any explicit instructions from the SEC. In general, no party has received any concrete indication that this approval will definitely materialize. However, I am about 95% confident that we will be able to commence trading on Thursday,” stated Steven McClurg.
A number of potential ETF issuers have made alterations to their previous applications on Tuesday morning, January 9, after receiving a response from the SEC the day before. Market participants view this swift response from the agency as a positive sign. According to the updated SEC filings, Invesco, Bitwise, Valkyrie, and WisdomTree have all lowered fees on their spot Bitcoin ETF applications.
Additionally, Axios sources point to January 11 as the date on which Bitcoin ETFs will enter the market following their approval. Previous reports from Fox revealed that lawyers from the SEC’s Division of Trading and Markets held meetings with representatives from major exchanges such as the New York Stock Exchange (NYSE), Nasdaq, and the Chicago Board Options Exchange (CBOE). These platforms are all planning to facilitate the trading of Bitcoin ETF shares.