Wall Street Firms in Frenzy Over Bitcoin ETF Approval - Who Will Come Out on Top?

EddieJayonCrypto

 1 Jan 24

tl;dr

The race to launch a bitcoin ETF is nearing a climax as major Wall Street firms are preparing their paperwork for potential SEC approval. With expectations high, over a dozen firms are vying to enter the market, rushing to be in the first group to receive approval. BlackRock set off a filing frenzy ...

The race to launch a bitcoin ETF is nearing a climax as major Wall Street firms are preparing their paperwork for potential SEC approval. With expectations high, over a dozen firms are vying to enter the market, rushing to be in the first group to receive approval. BlackRock set off a filing frenzy by declaring key partnerships, while the fight for investors could come down to fees and size, with some firms waiving fees and others securing significant seed capital.

The race has intensified as firms, including BlackRock, Fidelity, Invesco, Valkyrie, and Bitwise, finalized essential paperwork amidst expectations of imminent SEC approval. ETF watchers expect the SEC to approve multiple issuers at once, avoiding picking favorites. Consequently, eager issuers are getting all their ducks in a row to be part of the first group. The fight could potentially come down to fees and size, with some firms waiving fees and securing significant seed capital to gain a competitive edge in the market.

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.