Several reports have suggested that BlackRock could become the first issuer of a spot Bitcoin ETF in the US if approved, but that may not be the case, according to some executives and analysts.
Other industry observers, including Bloomberg Intelligence ETF analyst James Seyffart, have argued that ARK and 21Shares should be ahead of everyone to set up a spot Bitcoin ETF.
“21Shares, ARK and Cboe [Chicago Board Options Exchange] While we don’t yet have a date for other 19b-4 filings like BlackRock’s, they are in the first place as the next SEC decision date is August 13, 2023.”says Seyffart.
Many industry players have pointed out the timing of BlackRock’s deposit of the Bitcoin ETF, e some claim the firm may have inside information about the SEC’s policies regarding BTC ETFs.
The new shirt released by @EricBalchunas…
I must say that it is hard to believe that this is a coincidence:
BlackRock deposits a BTC spot ETF
The other 4 streamers are fast following the same
Launch of EDX crypto exchange (powered by Fidelity, Schwab etc.)
SEC approved 2X leveraged btc futures ETF
drop new t-shirt @EricBalchunas…
I’ll say it seems hard to believe that all this is a coincidence:
BlackRock files for spot btc ETFs
The other 4 issuers are fast following the case
EDX crypto exchange launches (powered by Fidelity, Schwab, etc.)
2X leveraged btc futures ETF allowed by SEC pic.twitter.com/5CfG7ThcLg
— Nate Geraci (@NateGeraci) 26 June 2023
Despite growing optimism about the potential for a spot Bitcoin ETF to come to the US market, many experts believe that such products will not be released in the near future.
“The SEC is unlikely to approve a spot Bitcoin ETF in 2023, as the issue has not progressed much since the Winklevoss twins filed for ETFs in 2017.”Wilshire Phoenix partner Wade Guenther told Cointelegraph.
Related: Bitcoin ETF fever: ProShares ‘BITO’ fund sees biggest inflow in a year
“Not much has improved since many of these sponsors first deposited their original spot Bitcoin ETFs”Günther added:
“As there is still some time for review, we do not believe that a spot Bitcoin ETF will go public anytime soon. Therefore, it may not be until next year, possibly next year, that we will see a spot Bitcoin ETF.”
Previously, co-founder of ETF Institute Nate Geraci He predicted there would be no spot Bitcoin ETF in 2023.
Translation of Walter Rizzo