The next window for the approval of Spot Bitcoin ETFs is around the corner, and not many know how to prepare properly. Apparently, without proper preparations and getting ready, one can’t properly take advantage of the situation. So, prepare as we unveil some steps to take while preparing.
Window of Spot Bitcoin ETFs to Open in Less than 20 Days
- There’s a reminder in the crypto market, and that is that the window for spot Bitcoin ETFs approval will soon open. Apparently, this should open in less than 20 days. Popular cryptocurrency influencer Crypto Rover posted a list of the pending ETF filings with their respective details on X (formerly Twitter). So, the post came with the name of the spot Bitcoin ETFs, the issuer, the company behind it, and the date for approval. Moreover, the picture attached to the post came with a lot of information.
- The picture displayed by Crypto Rover contained around 13 spot Bitcoin ETFs. So, 12 out of this number had their filing to the Securities and Exchange Commission in 2023. Furthermore, there was only one ETF that didn’t have its filing in 2023, which was that of Grayscale. Apparently, there was a refile submitted on October 19, 2021.
Grayscale Spot Bitcoin ETF Likely to Get Approval First
- According to details, there are chances that Grayscale spot Bitcoin ETF might be the first to receive approval. So, the SEC didn’t release a new deadline for Grayscale ETF approval after the expiration of the previous deadline on October 13. However, besides Grayscale, the deadline for some other spot Bitcoin ETFs falls in the first quarter 2024.
- Then, there are another two other deadlines that fall in the second quarter of 2024. Furthermore, there’s even an exception, with a specific spot BTC ETF having its deadline in the third quarter of 2024. Apparently, that’s Pando’s application, scheduled for Q3 2024.
How to Prepare for the Approval of Spot Bitcoin ETFs
- Assuming there’s an approval of these spot Bitcoin ETFs, there are certain actions one can take to ensure proper preparation. So, the first and most important action is developing an investment strategy. Apparently, it is an investment strategy that will guide you on how, when, and which spot Bitcoin ETF to go for. Furthermore, an investment strategy will let you know the amount you can invest in these spot Bitcoin ETFs.
- Other things one should do include seeking information and diversifying their portfolio. Subsequently, other actions evaluating brokerage platforms and risk management should also be put into consideration.
Conclusion
The next window for the approval of Spot Bitcoin ETFs is around the corner. But this time around, it seems like the Securities and Exchange Commission might approve one or more. In fact, the chairman of the SEC already said they are now considering the spot Bitcoin ETF applications. Nevertheless, one needs to prepare for this spot Bitcoin ETF approval. Having things like investment strategies and risk management are key.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
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