The past few months have seen the digital asset industry anxiously awaiting a decision regarding Spot Bitcoin ETFs. More than a dozen firms filed applications with the US Securities and Exchange Commission (SEC) as they sought to issue the investment product. Now, just ten days into the new year, the SEC has approved All Spot Bitcoin ETFs.
These approvals are undoubtedly a landmark development for the sector. Subsequently, the decision will allow asset management firms like BlackRock, Grayscale, and Valkyrie to head their very own Bitcon-focused exchange-traded funds.
Also Read: Bitcoin: 88% US Financial Advisors Want BTC After ETF Approval
Approved Bitcoin ETFs So Far
BlackRock’s iShare Bitcoin ETF
Asset management firm BlackRock was among the first Spot Bitcoin ETFs that the SEC would approve. The firm’s iShares Bitcoin Trust (IBIT) has been approved with an initial fee of 0.25%. Additionally, the firm says the fee will be 0.20% for the first $5 billion in assets for 12 months.
Grayscale Investments Bitcoin ETF
Grayscale Investments also received approval for its Grayscale Bitcoin Trust (GBTC). The asset management firm is converting its Bitcoin trust into a Spot Bitcoin ETF. Moreover, it has disclosed an initial fee of 1.5%.
Fidelity Wise Origin Bitcoin Trust
Another asset management firm, Fidelity, has seen the approval of its Wise Origin Bitcoin Trust (FBTC). The traditional finance giant has disclosed fees of 0.39%.
Ark Invest ARK21Shares Bitcoin ETF
Ark Invest and 21 Shares are also among the approved products with its ARK 21Shares Bitcoin ETF (ARKB). The firm disclosed fees of 0.25% but has announced it will waive all fees for six months or until the first $1 billion in assets.
VanEck Bitcoin Trust
Asset management firm VanEck also saw its VanEck Bitcoin Trust (HODL) gain approval from the SEC. The product is set to arrive with a recently disclosed 0.25% fee.
Valkyrie Bitcoin Fund
Valkyrie Digital Assets has seen the SEC approve its Valkyrie Bitcoin Fund (BRRR), among others. Moreover, the asset manager offers a fee waiver for the first 3 months, with a 0.49% fee afterward.
Invesco Galaxy Bitcoin ETF
After their SEC approval, Invesco and Galaxy Digital will see the formation of Invesco Galaxy Bitcoin Bitcoin ETF (BTCO). Additionally, the firm is offering a fee waiver for the initial six months or the first $5 billion in assets. Thereafter, its fees will be at 0.39%
Franklin Templeton Digital Holdings Trust
Franklin Templeton Digital Holdings Trust (EZBC) has also received approval from the SEC. the firm is offering no waiver details and will feature a 0.29% fee.
Bitwise Bitcoin ETF
Bitwise Asset Management will also issue the Bitwise Bitcoin ETF (BITB). The firm has recently updated its fees to offer a waiver for the first six months or the first $1 billion in assets. Thereafter, it will implement a 0.20% updated fee.
Hashdex Bitcoin Futures ETF
One of the earlier advertising exchange-traded funds, Hashdex, has been approved to issue its Hashdex Bitcoin ETF (DEFI). The Spot Bitcoin ETF will impilement fees of 0.90% and has not disclosed waiver details.
WisdomTree Bitcoin Trust
Alongside the other approvals was WisdomTree, which has seen the SEC greenlight its WisdomTree Bitcoin Trust (BRCW). The firm has announced a waiver for the initial 6 months or after the first $1 billion in assets. Thereafter, it will incur a 0.39% fee.
Also Read: Hashdex Releases New Spot Bitcoin ETF Commercial
What’s Next?
Now that SEC approval has been granted for these Spot Bitcoin ETF issuers, trading is set to be the next step. Industry experts have predicted that trading could begin as soon as Thursday morning. Moreover, the price of Bitcoin and various other assets should receive rather large bumps from the development.
As previously stated, this decision is a game-changer for the industry. Bitcoin as an asset should be embraced on a much larger scale following the issuing of the Spot ETF. Subsequently, other digital assets could be subject to similar exposure through investment offerings.