Progress Made in Form 8-A Filings by Fidelity, Grayscale, and VanEck for Spot Bitcoin ETFs
Form 8-A filings submitted by Fidelity, Grayscale, and VanEck indicate progress toward the widely expected approval for spot Bitcoin ETFs, although the SEC has not given the nod yet. These filings mark the registration of securities with the United States Securities and Exchange Commission (SEC) and are part of the process that would allow issuers to list Bitcoin ETFs on an exchange if approved.
Grayscale and VanEck Submit Form 8-A Filings for Bitcoin ETFs with SEC
On January 4, Grayscale Investments and VanEck filed Form 8-As with the SEC, signaling their intent to list Bitcoin ETFs. Grayscale, the issuer of Grayscale BTC Trust (GBTC), hopes to convert its current product into an exchange-traded fund that tracks the spot Bitcoin price. With over $26 billion worth of Bitcoin held, GBTC would trade on the NYSE Arca if approved.
Grayscale Bitcoin Trust Aims to Convert into Spot Bitcoin ETF on NYSE Arca
Grayscale‘s plan to convert GBTC into a spot Bitcoin ETF on the NYSE Arca is a significant development in the cryptocurrency space. GBTC has been a popular investment vehicle for institutional investors looking to gain exposure to Bitcoin. The conversion to an ETF would open up this opportunity to a wider range of investors while providing more liquidity in the market.
Fidelity, Grayscale, and VanEck Prepare for SEC’s Deadline on Spot Bitcoin ETFs
Fidelity submitted its Form 8-A a day before Grayscale and VanEck, showing the readiness of issuers ahead of the SEC’s deadline. The SEC has until January 10 to decide on the ARK 21Shares Bitcoin ETF, and experts believe that multiple filings could be approved by this date. Bloomberg analysts Eric Balchunas and James Seyffart put the chances of acceptance at 90%.
Traders Bet Big on SEC Approving Spot Bitcoin ETFs by Jan. 15
Traders on decentralized prediction platforms are placing bets worth over $1 million that the SEC will approve one of the 14 spot Bitcoin ETF applications by January 15. Despite a report suggesting the SEC may reject all applications in January, the amount locked in the “Bitcoin ETF approved by Jan. 15” contract has increased by over $600,000 in two days. This indicates the confidence traders have in the approval of spot Bitcoin ETFs by the SEC.
In conclusion, the Form 8-A filings submitted by Fidelity, Grayscale, and VanEck demonstrate progress towards the approval of spot Bitcoin ETFs. The filings mark an important step in the process and indicate the readiness of issuers to list Bitcoin ETFs on an exchange. With the SEC’s deadline approaching, there is increasing anticipation that multiple filings will be approved, opening up new investment opportunities and providing more liquidity in the market. Traders are betting big on the approval of spot Bitcoin ETFs, reflecting their confidence in the SEC’s decision.
Analyst comment
Positive news: Progress Made in Form 8-A Filings by Fidelity, Grayscale, and VanEck for Spot Bitcoin ETFs
As an analyst, it is likely that the market will experience increased interest and potential growth if the SEC approves multiple spot Bitcoin ETF filings by the upcoming deadline. This approval would open up new investment opportunities and provide more liquidity in the market, leading to positive market sentiment and potential price appreciation for Bitcoin.
