The United States seems to finally be on the verge of getting a long-awaited Bitcoin (BTC)
spot exchange-traded fund. The only question now is when this will happen. It is very likely that clarity will be provided this week or perhaps even approval for the ETF.
Currently, the U.S. Securities and Exchange Commission (SEC) is reviewing various applications for bitcoin ETFs. It appears that the SEC is poised to approve the launch of a bitcoin ETF in the United States for the first time in history. Major players in the cryptocurrency world, such as Blackrock, Grayscale, and ARK Invest, have all submitted applications.
According to multiple predictions, the SEC may approve multiple ETFs simultaneously, as the applications are virtually identical.
Several deadlines for the SEC to make a decision will expire on Friday, November 17. The applications submitted later will enter a public comment period after November 17. In this case, it may take several months for these applications to be approved. This scenario would not be desirable for the SEC if they indeed plan to approve multiple applications simultaneously.
However, there is no guarantee that the SEC will make a statement this week. It would be a logical choice for the SEC to provide some clarity this week. So, it is an important week and all eyes are on the SEC.