Bitcoin Spot ETF In January 2024: A New Player Just Joined The Game
Summary
Swiss asset management firm, Pando Asset, is the latest entry to the race for Spot Bitcoin Exchange Traded Fund (ETF) approval by the United States Securities and Exchange Commission (SEC). It submitted its filing for PBTC on November 29, bringing the total number of Spot Bitcoin ETFs filed to thirteen. Large financial institutions such as Grayscale, BlackRock, and Ark Invest are among the contenders. A decision from the SEC, expected by January 10, 2024, could lead to significant asset inflows for Bitcoin and potentially trigger a bull run, according to industry experts. The chances of Spot Bitcoin ETFs gaining approval are estimated to be 90% by Bloomberg analysts.
