Over the past few months, the digital assets industry has eagerly awaited a decision regarding Spot Bitcoin ETFs. More than a dozen companies have filed applications with the U.S. Securities and Exchange Commission (SEC) as they seek to issue the investment product. Today, just ten days into the new year, the SEC approved the All Spot Bitcoin ETFs.
These approvals undoubtedly constitute a historic development for the sector. Subsequently, the decision will allow asset management companies like BlackRock, Grayscale and Valkyrie to run their own exchange-traded funds focused on Bitcon.
Also read: Bitcoin: 88% of US financial advisors want BTC after ETF approval
Bitcoin ETFs Approved So Far
BlackRock iShare Bitcoin ETF
Asset management company BlackRock was among the first to be approved. The company’s iShares Bitcoin Trust (IBIT) was approved with an initially disclosed fee of 0.30%. Additionally, the company says the fee will be 0.20% for the first $5 billion in assets over 12 months.
Grayscale Investments Bitcoin ETF
Grayscale Investments also received approval for its Grayscale Bitcoin Trust (GBTC). The asset management company is converting its Bitcoin trust into a Spot Bitcoin ETF. Additionally, it disclosed an upfront fee of 1.5%.
Fidelity Wise Origin Bitcoin Trust
Fidelity, another asset management company, has seen approval for its Wise Origin Bitcoin Trust (FBTC). The traditional finance giant disclosed fees of 0.39%.
Ark Invest Bitcoin ETF ARK21Shares
Ark Invest and 21 Shares are also among the approved products with its ARK 21Shares Bitcoin ETF (ARKB). The company disclosed a 0.25% fee, but said it would waive all fees for six months or up to the first $1 billion in assets.
VanEck Bitcoin Trust
Asset management firm VanEck also saw its VanEck Bitcoin Trust (HODL) gain SEC approval. The product is expected to arrive with a recently revealed 0.25% fee.
Valkyrie Bitcoin Fund
Valkyrie Digital Assets saw the SEC approve, among others, its Valkyrie Bitcoin Fund (BRRR). Additionally, the asset manager offers a fee waiver for the first 3 months, with a 0.49% fee thereafter.
Invesco Galaxy Bitcoin ETF
Invesco and Galaxy Digital will see the creation of Invesco Galaxy Bitcoin ETF (BTCO) following its approval by the SEC. Additionally, the company is offering a fee waiver for the first six months, or the first $5 billion in assets. Subsequently, its fees will be 0.39%
Franklin Templeton Digital Equity Trust
Franklin Templeton Digital Holdings Trust (EZBC) also received SEC approval. the company offers no waiver details and will charge a 0.29% fee.
Bitwise Bitcoin ETF
Additionally, Bitwise Asset Management will issue the Bitwise Bitcoin ETF (BITB). The company recently updated its fees to offer a waiver for the first six months, or the first $1 billion in assets. Subsequently, it will implement a discounted fee of 0.20%.
Hashdex Bitcoin Futures ETF
One of the first advertising exchange-traded funds, Hashdex, has been authorized to issue its Hashdex Bitcoin ETF (DEFI). The Spot Bitcoin ETF will charge a 0.90% fee and has not disclosed details of the waiver.
And after?
Also Read: Hashdex Releases New Spot Bitcoin ETF Ad
Now that SEC approval has been granted for these Spot Bitcoin ETF issuers, trading should be the next step. Industry experts predict trading could begin as early as Thursday morning. Additionally, the price of Bitcoin and various other assets is expected to see quite significant increases due to the development.
As previously noted, this decision is a game-changer for the industry. Bitcoin as an asset is expected to be adopted on a much larger scale following the issuance of the Spot ETF. Subsequently, other digital assets could be subject to similar exposure via investment offerings.
reference: watcher.guru