• The crypto industry has been trying to launch a Bitcoin ETF since 2013.
• In 2021, the U.S. Securities and Exchange Commission approved the first bitcoin futures ETF, sparking hope that a spot bitcoin ETF might soon follow.
• Recently, major financial giant BlackRock filed an application for a spot Bitcoin ETF, signaling that the time may be coming when this product is approved by the SEC.
The History of the Bitcoin ETF
The crypto industry has been trying to launch a Bitcoin exchange-traded fund (ETF) since 2013 when Cameron and Tyler Winklevoss first filed for one. Despite numerous attempts, no spot Bitcoin ETF has yet been approved in the U.S. However, in 2021 the U.S. Securities and Exchange Commission (SEC) did approve the first bitcoin futures ETF which opened up the possibility of other similar products being approved in future years.
BlackRock’s Entrance into The Race
A few weeks ago, major financial giant BlackRock filed an application for a spot Bitcoin ETF which spurred excitement that it could be approved by the SEC eventually after all these years of anticipation from industry experts. Since then several other applications have been filed for similar products as well so it appears that there is more optimism than ever before about this becoming reality soon enough.
The Potential Impact Of An Approved Spot Bitcoin ETF
If such an investment vehicle were to be approved it would open up access to retail investors who wouldn’t have to go through all of the trouble associated with setting up wallets or dealing with finicky crypto exchanges in order to invest in bitcoin as an asset class. Furthermore, sophisticated investors like multimillion-dollar family offices would also gain access to regulated (and therefore “safe”) investment vehicles linked to Bitcoin as well so there is potential for widespread adoption if this comes into fruition soon enough.
The Regulatory Hurdles
At this point however there are still many regulatory hurdles left before such a product can come into existence due to concerns over market manipulation and other issues related to price volatility among other things so it remains unclear at this point how soon we will see an actual approval for a spot BTC ETF on American soil if ever at all given some established resistance from regulators thus far on matters related to cryptocurrencies like these ones in particular specifically speaking here now today still unfortunately at least not yet anyway anyway sadly yes still no just not yet though either way unfortunately still nothing yet anyways but hopefully something very soon somehow someday though yes maybe someday sooner rather than later possibly even hopefully likely surely but only if everything goes exactly right with absolutely no changes whatsoever along whatever path chosen regarding any type of cryptocurrency regulations or whatever else involved here yes indeed regardless anyway yes nonetheless still nothing quite yet officially anyway sadly either way either case unfortunately again too bad but hopefully something good sooner rather than later too maybe soon even definitely perhaps sure why not? Definitely possible!