What is the Status of Bitcoin ETF Applications Made to the SEC? Analysts Shared Their Predictions!

Spot Bitcoin Time is running out for exchange-traded funds to be approved by the US Securities and Exchange Commission (SEC).

SEC BitcoinWhen Will It Approve Its ETFs?

Jake Chervinsky, chief policy officer at the Blockchain Association, said all signs were BitcoinHe says it points to SEC approval for spot ETFs.

ARK Invest Investment Management, spot BitcoinThe ETF is making significant updates to its prospectus.

A few weeks ago, the SEC shared feedback on S-1 filings with various issuers and encouraged revisions. ARK Invest appears to have allayed these concerns, particularly regarding Net Asset Value (NAV) calculations that the SEC commented on.

The updated statement specifically highlights that the NAV calculation is not consistent with Generally Accepted Accounting Principles (GAAP).

In addition, ARK has separated the Trust’s assets in the Custodial Institution. BitcoinHe explained that they are stored in blockchain accounts or wallets so they are not mixed with corporate or other customer assets.

While these revisions are seen as a positive step towards SEC approval, Balchunas emphasized that further discussions with the SEC may be required regarding these complex details.

The latest court decision in favor of Grayscale against the SEC, spot BitcoinIt has increased optimism for ETF approvals, with analysts predicting a 75% chance this year and a 95% chance by the end of 2024.

Along with BlackRock, the world’s largest asset manager, other financial giants such as Fidelity, WisdomTree, VanEck and Invesco/Galaxy are also pushing for their own ETFs, demonstrating intense interest and competition in the space.

*This is not investment advice.