BREAKING: SEC Approves All Bitcoin ETF Applications
In recent times, the digital asset industry has been abuzz with anticipation regarding Spot Bitcoin ETFs.
Over a dozen firms sought approval from the US Securities and Exchange Commission (SEC), and within the first ten days of the new year, the SEC granted approval for All Spot Bitcoin ETFs.
This milestone allows major asset management firms like BlackRock, Grayscale, and Valkyrie to launch their Bitcoin-focused exchange-traded funds. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) received approval with an initial fee of 0.25%, decreasing to 0.20% for the first $5 billion in assets during the initial 12 months.
Grayscale Investments also got the green light for its Grayscale Bitcoin Trust (GBTC), transitioning into a Spot Bitcoin ETF with an initial fee of 1.5%. Fidelity’s Wise Origin Bitcoin Trust (FBTC) gained approval with disclosed fees of 0.39%. Other approved products include Ark Invest and 21 Shares’ ARK 21Shares Bitcoin ETF (ARKB) with a 0.25% fee and a fee waiver for six months or until reaching the first $1 billion in assets.
VanEck’s VanEck Bitcoin Trust (HODL) received SEC approval with a 0.25% fee, while Valkyrie Digital Assets had its Valkyrie Bitcoin Fund (BRRR) approved, offering a fee waiver for the initial three months and a subsequent 0.49% fee. Invesco and Galaxy Digital will collaborate on the Invesco Galaxy Bitcoin ETF (BTCO), providing a fee waiver for the first six months or until reaching the first $5 billion in assets, followed by a 0.39% fee.
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Franklin Templeton Digital Holdings Trust (EZBC) gained SEC approval with a 0.29% fee, and Bitwise Asset Management will issue the Bitwise Bitcoin ETF (BITB) with a fee waiver for the initial six months or the first $1 billion in assets, followed by a 0.20% fee. Hashdex secured approval for its Hashdex Bitcoin ETF (DEFI) with a 0.90% fee, and WisdomTree’s WisdomTree Bitcoin Trust (BRCW) received approval with a fee waiver for the first six months or until the first $1 billion in assets, followed by a 0.39% fee.
With SEC approval granted, trading is expected to commence shortly, potentially leading to significant price boosts for Bitcoin and various other assets. This development marks a game-changer for the digital asset industry, with Bitcoin poised for broader acceptance on a larger scale, and the possibility of similar exposure for various digital assets through diverse investment offerings.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
