Bitcoin Spot ETFs Could Be Approved This Week, ETF Store President Nate Geraci Says

ETF Store President Nate Geraci announced that approval for spot Bitcoin ETF applications may be given this week, and the cryptocurrency market is waiting for this event with great excitement.

The process of monitoring spot Bitcoin ETFs continues, with the SEC leaving a small window for issuing 19b-4 confirmation orders. The consensus among market observers is that the SEC will likely approve spot Bitcoin ETFs en masse to avoid being perceived as favoring any issuer in what is expected to be a highly competitive market.

This left approval window is important to ensure that the SEC follows through on its plan to launch all existing spot Bitcoin ETF applications at the same time. However, this window will close on November 17 due to a few issuers filing later than others.

Applications that are overdue will enter a public comment period, and the SEC is unlikely to approve them until that period ends in early January. Therefore, among the spot ETF applications expected to be approved this week, these later applications are not expected to be approved.

It is important to note that these 19b-4 confirmation orders will only allow spot Bitcoin ETFs to be listed and traded on their exchanges. The SEC will still need to approve each issuer’s registration statement (S-1, or S-3 in Grayscale’s case), which is crucial to actual launch timing and is expected to arrive at a later date.

*This is not investment advice.