Ahead of the January 10 deadline to decide whether to approve the spot Bitcoin ETF proposed by Ark Investments and 21Shares, the SEC has until next Tuesday or Wednesday to notify asset managers whether their applications will be approved, according to the SEC. do. According to a report from Reuters.
Reuters, citing sources familiar with the process, said that asset managers that meet the year-end deadline will be able to begin operations by the January 10 decision deadline. These include the aforementioned companies as well as Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco.
Some of the 14 asset managers vying for approval of similar ETFs have already filed forms with the SEC outlining sponsor fees and other technical details. Fidelity’s proposed ETF currently has the lowest proposed sponsor ratio of 0.39%. Many companies have not yet disclosed their planned rates.
According to analysts, the approval of spot Bitcoin ETFs is expected to drive additional institutional investment into the cryptocurrency industry.
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