IVZ - Will SEC Greenlight A Spot Bitcoin ETF? Crypto Investors Wait In Anticipation | Benzinga
Crypto investors are eagerly awaiting an important decision from the Securities and Exchange Commission (SEC) regarding the potential establishment of a spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF).
According to Barron’s, this decision could significantly impact the cryptocurrency. Companies such as Fidelity, BlackRock (NYSE:BLK), and Invesco (NYSE:IVZ) have submitted applications to launch their own Bitcoin ETFs. If approved, this could result in a significant influx of funds into Bitcoin.
Grayscale Investments has been trying for years to convert its Grayscale Bitcoin Trust into an ETF. Currently, the trust manages approximately $16.6 billion and trades similarly to a closed-end fund. Friday midnight is the deadline for the SEC to contest its previous court defeat to Grayscale.
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The SEC has consistently ...