In the race to get Bitcoin ETF approval, James Seyffart highlighted that both the 19b-4 and S-1 filings are important for full-blown consideration. While he believes securing a green light for 19b-4 will come without much hassle, he said it could take anywhere between a day or two for the approval to begin trading to go live.
The Bloomberg analyst said that should the approval for both filings come, the gap between this approval and the proper launch will be small. From current indications, marked by ongoing meetings between the applicants and SEC officials, Seyffart is unsure if the S-1 filings are ready to be approved for now.
With the likes of Hashdex and BlackRock (NYSE:BLK) with the SEC this week, Seyffart is convinced both parties can get the details worked out.
The demand to get a spot Bitcoin ETF product trading in the United States is more than a decade-long pursuit at the moment. With other countries like Canada, Germany and even Brazil pioneering the launch of this product, many market experts have that a launch of BTC ETF in the U.S. will be the ultimate game-changer the crypto market needs.
It is worth noting that a Bitcoin ETF would provide the right vehicle for institutional investors to gain exposure to Bitcoin without the complicated custody stress. Should the product be approved, at least $100 billion worth of products are billed to be injected in, an inflow that can impact the price considerably.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
