I keep reading that, I think the ARK Spot Bitcoin ETF has already been delayed and has to receive either rejection or approval, I think in Q4 this year? Same for the ProShares one in Q1 of 2024?
Now that Blackrock has entered their application, I don't see them getting rejected. Even the 'return of application' they got a while back just said they needed to include who would custody their crypto. They updated with Coinbase being listed as their custodian.
Now, if Blackrock is going to be approved, the SEC can't legitatemly approv Blackrock's and reject the other 20 or they have already pre-lost numerous lawsuits about them showing favoritism. Same if they approve Blackrock first and make everyone else wait a few months, so it would be a safer bet to assume when one gets approved, they all do. Especially since they're all following the same format.
Add in too that the GreyScale one is looking at converting their current project to a spot BTF and that a federal judge has ruled that Eth and BTC are commodities, and it's looking more and more like a spot crypto ETF will be approved.
When that happens, well... i know for me, it means my employer will be putting 10% of my salary (in addition to my salary) into a crypto ETF, twice a month, every month, for the next 20 years. If even 25 million US workers do that, that's a lot of retail funds heading to an ETF. Now think about pension funds, and mutual funds and so on.
I definitely think it's a matter of when, not if. With the deadlines looming, it's looking like a very safe bet by the next halvening.
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