October 2021 in the USA was all about BTC ETFs. Approved for the first time Securities and Exchange Commission a financial product tied to digital gold. At that time he received BTC Strategy ETF (BITO) from investment firm ProShares was the first to receive the nod from the SEC. From then on, investors were able to trade a securitized investment product with BTC futures as an underlying on the New York Stock Exchange (NYSE) for the first time. ETFs from Valkyrie and VanEck made their debut shortly thereafter.
In fact, the crypto space has been waiting for a BTC ETF to be approved in the US for quite some time. With the go-ahead in October last year, the SEC triggered a veritable domino effect. Since then, numerous investment companies have tried to launch their own BTC ETFs – with more or less success. BTC-ECHO shows you which applications are currently still pending at the SEC and when the US Securities and Exchange Commission has to make a decision, provided it does not delay the deadline any further. The data comes from Bloomberg Intelligence.
ARK 21Shares BTC ETF
The ARK 21Shares BTC ETF (ARKB) has been awaiting judgment since June 2021. The SEC has repeatedly delayed its decision on whether to approve or deny it. Overall, the stock exchange supervisory authority may delay its decision by 180 days. The authority last made use of this at the end of January this year. The new deadline is now April 3rd. A further shift is not possible. However, how the SEC will decide on the BTC Spot ETF is anyone’s guess.
Teucrium BTC Futures Fund
Teucrium’s BTC Futures ETF has also been waiting for SEC approval since May last year. The stock exchange supervisory authority has already postponed its decision several times. The final date is now April 8th.
Valkyrie XBTO BTC Futures Fund
It continues with the XBTO BTC Futures Fund from Valkyrie. The application for a futures-based ETF has been with the SEC since the end of July 2021. The stock exchange supervisory authority has now set May 7, 2022. Whether the ETF will then also receive the blessing of the SEC is another matter.
One River Carbon Neutral BTC Trust
One River’s Carbon Neutral BTC Trust has also been awaiting a verdict from the SEC since May 24 last year. The authority only postponed its decision on the financial product today. The new deadline is now June 2nd.
Bitwise BTC ETP Trust
A similar fate befalls the BTC ETP Trust from Bitwise. The investment company had already submitted the application for the spot ETF in mid-October. According to Bloomberg Intelligence, a decision is expected on July 1, 2022. How this will turn out, or whether the verdict will be postponed again, remains unclear.
Grayscale BTC Trust
Grayscale’s largest BTC fund in the world is also on the list. Ever since the SEC approved the first BTC ETFs in the US, Grayscale has been looking to convert its BTC Trust (GBTC) into a spot ETF. The asset manager had already submitted a corresponding application in October last year. According to Bloomberg Intelligence, the SEC’s decision on this is now expected to be made on July 6th.
Wisdomtree BTC Trust
Wisdomtree’s (BTCW) BTC Trust completes the list of BTC ETFs. Filed on August 12 last year, the spot ETF has so far awaited a ruling from the SEC. The authority had rejected a similar product from the asset manager at the end of December 2021. It remains to be seen whether the dice will fall differently this time. The deadline is October 12, 2022.