A recent survey conducted by ETF issuer Bitwise reveals that only 39% of U.S.-based financial advisers believe that a spot Bitcoin exchange-traded fund (ETF) will be approved this year. The survey, which included participants such as registered investment advisers, financial planners, institutional investors, and wirehouse representatives, asked several questions regarding the approval timeline for a Bitcoin ETF.
Contrary to the expectations of some experts who anticipate approval by January 10th, the majority of surveyed advisers selected “2024” as the year they expect a spot Bitcoin ETF to be approved. However, despite this pessimism, a significant 87% of respondents believe that an ETF will eventually receive approval.
Interestingly, many advisers expressed a desire to invest in Bitcoin for themselves or their clients, even if they don’t anticipate immediate approval of an ETF. When asked whether they would prefer to buy Bitcoin before or after an ETF is approved, 88% of these advisers indicated a preference for purchasing after the approval of a spot Bitcoin ETF in the U.S.
ETF issuers have faced challenges in obtaining approval for a spot Bitcoin ETF from the U.S. Securities and Exchange Commission (SEC) for several years. However, in June 2023, Grayscale successfully appealed the SEC’s rejection of its spot Bitcoin ETF proposal, leading to a reconsideration of the application. Since then, more experts have argued that an ETF approval is imminent.
The SEC has a deadline of January 10th to approve or reject the ARK 21 Shares spot Bitcoin ETF, while the deadlines for other funds are set for March.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | ARK 21 Shares, U.S. Securities and Exchange Commission (SEC), Grayscale, Bitwise |
| Currencies | Bitcoin |
| Securities | ARK 21 Shares |
