{"id":52175,"date":"2023-12-02T18:06:46","date_gmt":"2023-12-02T18:06:46","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/what-to-expect-in-january\/"},"modified":"2023-12-02T18:06:48","modified_gmt":"2023-12-02T18:06:48","slug":"what-to-expect-in-january","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=52175","title":{"rendered":"What to Expect in January"},"content":{"rendered":"<div>\n<figure id=\"attachment_138606\" aria-describedby=\"caption-attachment-138606\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-138606\" class=\"wp-caption-text\">Image by Parradee, Adobe Stock<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The Securities and Exchange Commission (SEC)\u2019s move to start a public comment period for spot Bitcoin (BTC)\u00a0ETF applications earlier than expected has stirred up optimism around the launch of these products.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On November 28, the SEC published filings instituting proceedings to receive public feedback on the proposed\u00a0<\/span><span data-preserver-spaces=\"true\">Franklin Bitcoin ETF<\/span><span data-preserver-spaces=\"true\">\u00a0and\u00a0<\/span><span data-preserver-spaces=\"true\">Hashdex Bitcoin Futures ETF<\/span><span data-preserver-spaces=\"true\">\u00a0funds.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The move, according to analysts, signals a potential acceleration of the SEC\u2019s timeline for approving an anticipated \u201cspotcoin\u201d ETF.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Typically, the SEC has 240 days to approve or deny an ETF filing and is required to provide updates on its decision at specified intervals.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Franklin Templeton\u2019s application was not due for a decision until January 1.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, by opening the public comment period earlier, the SEC may be indicating its intention to expedite the approval process for spotcoin ETFs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bloomberg analyst James Seyffart noted on X that the SEC\u2019s decision to initiate a comment period for Hashdex \u201call but confirms for me that this was likely a move to line every applicant up for potential approval by the Jan. 10, 2024 deadline.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Scott Johnsson, a finance lawyer, agreed that the SEC filings suggest the regulator is preparing to approve the funds around Jan. 10.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cReally the only way it makes sense,\u201d he\u00a0<\/span><a rel=\"nofollow noopener\" class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/SGJohnsson\/status\/1729575861664243928?s=20\" target=\"_blank\"><span data-preserver-spaces=\"true\">tweeted<\/span><\/a><span data-preserver-spaces=\"true\">. \u201cPretty sure we can lock this one up.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Franklin Templeton, a firm with approximately $1.5 trillion in assets under management, initially filed for a spot bitcoin ETF in October.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, its filing faced a delay on November 15.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On November 29, Franklin Templeton amended its prospectus, stating that it had addressed the SEC\u2019s questions and concerns regarding its application.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">SEC Expected to Approve Spot Bitcoin ETFs<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">The SEC has historically denied or delayed spotcoin ETFs due to concerns over market manipulation and investor protection.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, following a landmark lawsuit loss to Grayscale Investments in August, the agency began collaborating more closely with a dozen firms to explore the possibility of bringing such funds to the market.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Many industry participants, including Cathie Wood of ARK Invest, believe that the SEC will approve multiple applications simultaneously to prevent any single firm from gaining a first-mover advantage.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Analysts at financial services firm\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Cantor Fitzgerald<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0also believe the long-awaited spot\u00a0<\/span><span data-preserver-spaces=\"true\">BTC ETF is inching closer to reality<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The company, known for its prime brokerage and investment banking services, has grown confident in the approval of applications from asset managers seeking to launch a spot ETF for Bitcoin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Currently, the SEC is evaluating 13 applications for spot BTC ETFs.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the most recent application by Swiss-based Pando Asset, submitted just two days ago, is unlikely to be considered alongside the earlier submissions.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It is worth noting that the optimism around the launch of a spot Bitcoin ETF has fueled the recent rally in crypto markets, which saw the flagship cryptocurrency reach as high as $38,000.<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/bitcoin-etf-decision-dates-approach-what-to-expect-in-january.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image by Parradee, Adobe Stock The Securities and Exchange Commission (SEC)\u2019s move to start a public comment period for spot Bitcoin (BTC)\u00a0ETF applications earlier than expected has stirred up optimism around the launch of these products.\u00a0 On November 28, the SEC published filings instituting proceedings to receive public feedback on the proposed\u00a0Franklin Bitcoin ETF\u00a0and\u00a0Hashdex Bitcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":52176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-52175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What to Expect in January | Prosfunds<\/title>\n<meta name=\"description\" content=\"Image by Parradee, Adobe Stock The Securities and Exchange Commission (SEC)\u2019s move to start a public comment period for spot Bitcoin (BTC)\u00a0ETF\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=52175\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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