Lucky 13? Where spot bitcoin ETF proposals stand ahead of judgment day

Lucky 13? Where spot bitcoin ETF proposals stand ahead of judgment day:

The US Securities and Exchange Commission has yet to approve an ETF holding bitcoin directly, but there is growing expectation that it will happen soon. The regulator is expected to make a decision on a proposal from Ark Invest and 21Shares, as well as other similar filings by a dozen other firms, by Jan. 10. Bloomberg Intelligence analysts believe that there is a 90% chance of approval for a spot bitcoin ETF by that date, but this estimate has been criticized by former SEC executive John Reed Stark.
Grayscale Investments, a fund group based in Switzerland, has emerged as a significant player in the Bitcoin ETF market. The company recently won approval for their Bitcoin Trust to operate as an ETF upon regulatory approval. Grayscale plans to move their fund from the OTCQX Market to NYSE Arca once they receive approval from the SEC.
Ark Invest and 21Shares have also made multiple attempts to launch a spot bitcoin ETF, and the SEC is expected to rule on their latest filing by Jan. 10. BlackRock, with $9 trillion in assets under management, has also joined the race, and held meetings with officials at the SEC’s division of trading and markets. Bitwise has also submitted amendments to their filing, and their chief investment officer has expressed optimism about the current status of the bitcoin ETF applications.
VanEck has named Gemini Trust Company as the custodian of their proposed ETF, while WisdomTree and Invesco have also re-filed for spot bitcoin ETFs. Fidelity has emerged as a notable contender due to the use of Fidelity Digital Assets Services as the custodian for their proposed ETF. In general, there is a growing sense of momentum and optimism within the industry regarding the approval of spot bitcoin ETFs.