When Will Spot Bitcoin and Spot Ethereum ETF Applications Be Approved? Expert Expectations!

  • A spot Bitcoin exchange-traded fund (ETF) is expected in the US in the near future, and market experts predict it could happen by January 10, 2024 at the latest.
  • JPMorgan analysts shared the same predictions, publishing a report in which they stated that the SEC would approve multiple spot Bitcoin ETF applications “within months.”
  • Along with the excitement around spot BTC ETFs, market pundits have also speculated that spot Ethereum ETFs could happen as early as May 2024.

While time is running out for spot Bitcoin ETFs, experts are evaluating what course the SEC will follow: After Bitcoin, there are also Ethereum ETFs!

Expectations for Spot Bitcoin and Ethereum ETFs!

Bitcoin-Ethereum

A spot Bitcoin exchange-traded fund (ETF) is expected in the near future in the United States, and market experts anticipate it could happen by January 10, 2024, at the latest. In a recent discussion on Unchained Crypto, market analyst James Seyffart from Bloomberg Intelligence and CIO Matt Hougan from Bitwise Asset Management shared optimistic predictions that the spot Bitcoin ETF is likely to be launched by January 10, 2024.

JPMorgan analysts also shared similar predictions, stating in a report that the SEC will approve multiple spot Bitcoin ETF applications “within months.” While the exact timing of regulatory approval remains uncertain, it is anticipated to happen in the coming months, most likely before January 10th. This date has been set as a deadline for spot BTC ETF applications by Ark Invest and 21Shares.

So far, the U.S. Securities and Exchange Commission (SEC) has not greenlit any spot Bitcoin ETFs due to concerns about fraud and market manipulation. However, recent legal developments have given hope to those eagerly awaiting the spot BTC ETF.

Many industry experts predicted that following the SEC’s loss in court against Grayscale in August, the pending ETF applications would be reevaluated. On October 13th, the SEC decided not to contest a court ruling that deemed their rejection of Grayscale Bitcoin Trust (GBTC)’s conversion application to an ETF arbitrary and unfair. Legal experts claim this decision paves the way for Bitcoin ETFs to be approved.

In addition to spot Bitcoin ETFs, spot Ethereum ETFs are also in line waiting

In the midst of the excitement around spot BTC ETFs, market experts have also speculated about the possibility of spot Ethereum ETFs by May 2024. Seyffart stated:

“If we get spot Bitcoin ETFs by January 10 as we expect, there are active spot Ethereum ETF filings, and if those start, I don’t think the SEC will find a way to reject them until later in 2024, probably until May.”

For those unfamiliar, crypto ETFs like spot Bitcoin ETFs allow investors exposure to cryptocurrencies like Bitcoin without owning the digital assets. In the U.S., seven major firms including BlackRock, WisdomTree, Invesco Galaxy, Valkyrie, Bitwise, VanEck, and Fidelity have applied to launch their ETFs with the SEC.

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