This Week, Can the SEC Make a Decision on Spot Bitcoin ETF Applications?

• The U.S. Securities and Exchange Commission (SEC) is reported to potentially make a decision on the approval of spot bitcoin exchange-traded funds (ETFs) on Tuesday or Wednesday.
• Among the applicants are Blackrock, Vaneck, Valkyrie, Bitwise, Invesco, Fidelity, Wisdomtree, and Ark Invest/21shares partnership.
• Valkyrie’s fee structures take shape with an announcement of a 0.80% management fee, reiterating the ratio proposed by Ark/21shares.

The U.S. Securities and Exchange Commission will make a final decision on ARK Invest’s spot Bitcoin ETF in January: Could it be this week?

Will the SEC Act on Spot Bitcoin ETFs This Week?

The U.S. Securities and Exchange Commission (SEC) is reported to potentially make a decision on the approval of spot bitcoin exchange-traded funds (ETFs) on Tuesday or Wednesday. As leading asset managers updated their applications for spot bitcoin ETFs in the U.S. for the first time last week, the anticipation has intensified.

Market participants are eagerly awaiting regulatory approval in this period when major asset management companies are making efforts to obtain approval for spot bitcoin ETFs in the U.S. Among the applicants are Blackrock, Vaneck, Valkyrie, Bitwise, Invesco, Fidelity, Wisdomtree, and Ark Invest/21shares partnership.

The initial deadline is January 10th for Ark Invest/21shares’ proposed spot Bitcoin ETF. Many expect the securities regulator to approve more than one spot Bitcoin ETF by this date. According to a report based on unnamed sources speaking to researchers last week:

“The SEC could notify issuers as early as Tuesday or Wednesday that they are allowed to start next week.”

Fee Structures for Spot Bitcoin ETFs

Valkyrie’s fee structures are taking shape with an announcement of a 0.80% management fee, reiterating the ratio proposed by Ark/21shares. However, Fidelity aims to reduce competition with a relatively low fee of 0.39% for the Wise Origin Bitcoin Fund. Meanwhile, Invesco offers a 0.59% fee for the first $5 billion in assets, coupled with a six-month exemption.

In its application on Friday, Bitwise announced plans to launch its spot bitcoin ETF with $200 million, while Blackrock, the world’s largest asset manager, revealed plans to start its ETF with $10 million on January 3rd. The largest asset manager named JPMorgan as the lead authorized participant, despite the consistently negative stance exhibited by JPMorgan CEO Jamie Dimon.