The long-awaited approval of a spot Bitcoin ETF (exchange-traded fund) draws nearer as issuers have overcome a significant obstacle this week.

ETF applicants and associated exchanges met the designated deadline, submitting the final versions of their 19b-4 filing on January 5. These documents outline proposed rule changes for the listing exchanges and has undergone requested amendments from the regulator.

Observers Predict Simultaneous Bitcoin ETF Approvals

Bloomberg analyst James Seyfarrt predicts that the SEC could approve all 11 pending Bitcoin ETF applications, including Grayscale, Ark 21Shares, Bitwise, VanEck, Wisdomtree, and Invesco. Other applicants include Franklin Templeton, Fidelity, Hashdex, Valkyrie, and BlackRock.

Still, he emphasized the applications of Pando and 7RCC arrived too late to be included in the initial wave of approvals.

“There’s three that have filed that i don’t have in this first wave or we think are completely out. Global X looks to have dropped out essentially. and then I think Pando and 7RCC were likely too late. Hashdex is very much still involved,” Seyfarrt added.

Seyfarrt also noted that this is “not a guarantee,” especially if certain firms remain unprepared by Day 1.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

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Author: Oluwapelumi Adejumo

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