
April 21st, 2025
Many of the required revisions and adjustments are being carried out urgently by most companies, fueled by rumors that there may be a possible approval in January.
Jonathan Goldsmith’s recent promotion of Bitwise coincides with the asset manager’s pending Bitcoin ETF application with the United States Securities and Exchange Commission.
According to a recent report from Goldman Sachs, 2023 saw significant institutional support for the crypto industry, especially for derivatives trading.
While SEC Chair Gary Gensler acknowledged constructive dialogue in Bitcoin ETF applications, he also warned of persisting non-compliance issues in the crypto space.
DTCC data shows that the Wise Origin Bitcoin FD SHS is listed under the ticker BITB. Bitwise joins BlackRock, Invesco Galaxy, and Fidelity on the DTCC’s list.
Goldman believes that the Fed could begin rate cuts from the first quarter of next year as inflation hopefully falls.
The first reports said the SEC gave the green light but did not say “ETF”. This made people wonder if it was really an approval for a Bitcoin exchange-traded fund.
The revised spot Bitcoin ETF proposal from BlackRock provides access to banks, allowing them participate via broker-dealers.
BlackRock’s recent app update indicates their engagement with the SEC led by Gary Gensler on Dec. 11, marking the third meeting in a series held over the past few weeks.
As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality.
Despite Vanguard and State Street’s decision to abstain, the SEC is approaching a crucial deadline to announce its decision on the first Bitcoin ETF in early January.
The fund would use investor capital to buy call options on MSTR while simultaneously selling put options. The premiums collected from these transactions would then be distributed to shareholders as monthly yields.
As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over $1 billion in 2038.
Despite the subdued overall interest, a group that remains consistently passionate is the die-hard Bitcoin maximalists.
The SEC has been asking prospective issuers to give well-detailed descriptions of their various spot Bitcoin ETF products.