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There are currently 14 asset managers hoping to finally win the U.S. Securities and Exchange Commission s approval for spot bitcoin ETFs, which would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. ....
The SEC is expected to announce its decision by Jan. 10 - the deadline to either approve or reject the Ark/21Shares ETF. To date, the only crypto ETFs approved have been tied to futures contracts on bitcoin and ethereum. ....
Interestingly, the latest SEC filing did not mention Jane Street or Virtu Financial, the market-making heavyweights that the firm had said it would work with if its Grayscale Bitcoin Trust (GBTC) ....
Like BlackRock and ARK, Grayscale also initially said it would use the in-kind creation and redemption model on its spot Bitcoin ETF. But as Wall Street giants ironed out details with the regulator – ....