Bitcoin ETF contenders have until today to make last-minute changes to their applications and pass the final hurdle: Permitted Participant Agreements.
An authorized participant in an exchange-traded fund (ETF) is an investment vehicle that works with the issuer to create and redeem shares of a fund so that an investor's money can be withdrawn.
And after months and future meetings between asset fund managers and the SEC, this seems to be the case now The last part of the application process.
The SEC last week set a December 29 deadline for Bitcoin ETF competitors to file any changes to their filings. according to Reuters. Among the reforms in recent weeks from top competitors like BlackRock and Catie Wood's ARK Invest, two key details have emerged: The SEC appears to want Bitcoin ETFs to follow suit. Financial modelNew currencies are created in cash, not Bitcoin, and they have Authorized participant Agreements on agreement.
According to Eric Balchunas, senior ETF analyst at Bloomberg, an applicant that includes both provisions of the amendment to date could be excluded from the Bitcoin ETF race.
Balchunas in a Friday post on X (formerly Twitter). he said. He expects some authorized participants to call today — but added that it's more likely to happen a few days before the Bitcoin ETF launches. Notably, ARK Invest and 21 Shares filed an amendment yesterday to mention the approved participant agreements but did not name AP.
Experts expect the Bitcoin ETF position to gain approval in the new year. They have Bloomberg Intelligence analysts he said. On January 10th, there is a 90% chance that someone will start a business.
An ETF is an investment vehicle that tracks the value of an asset such as gold, foreign currency or bitcoin. A Place Bitcoin ETF It is an investment fund that allows people to gain exposure to the digital coin by buying stocks that track the price of Bitcoin.
Investment firms have been applying for Bitcoin ETFs since 2013 only to be rejected by the US Securities and Exchange Commission. The SEC cited concerns about market manipulation by not allowing such a product to exist in the States.
But major Wall Street players—including the world's largest asset manager Blackrock— have applied to the top regulator to release their own product this year. SEC now the Long list From apps like VanEck, Grayscale, and WisdomTree to review.
A flurry of high-profile indicators has market analysts predicting that the SEC will soon give the green light to such a product, which would allow traditional investors to gain exposure to cryptocurrencies in a safe and regulated manner.
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