Experts expect spot bitcoin ETF approval in January. What it implies for investors

Investors anticipate approval of the first U.S. spot bitcoin ETF, a milestone for cryptocurrency investors.

Securities and Exchange Commission and asset managers with spot bitcoin ETF applications are in advanced talks.

Bitcoin “remains an extremely volatile and speculative asset,” said Morningstar North America director of passive strategies research Bryan Armour.

Bitcoin prices have risen in 2023 as investors await approval of the first U.S. 

spot bitcoin exchange-traded fund, a significant milestone for cryptocurrency investors, according to experts.

The cryptocurrency reached $44,000 for the first time since April 2022 in early December, and year-to-date gains were above 160% as of Dec. 21, driven by hopes for a spot bitcoin ETF.

While conversations between the SEC and asset managers seeking to establish bitcoin ETFs have advanced to technical details, some analysts believe an approval is soon.

Over 12 corporations, including BlackRock, WisdomTree, Valkyrie, and others, await SEC approval in early January.

“For ETF investors, this would be the best product on the market,” said Morningstar North America director of passive strategies research Bryan Armour. 

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