With the approval of multiple ether (ETH) futures ETF applications by the SEC this month, some experts believe the regulatory body could repeat this process for pending spot bitcoin ETFs as well.
Stuart Barton, Chief Investment Officer at Volatility Shares, believes his experience filing the first ether futures ETF application gives him unique insight into how the SEC may handle the numerous spot bitcoin ETF applications that are currently pending.
While Barton’s company was first to file for an ether ETF, they did not receive the “first-mover advantage” as all subsequent applications were approved together in one fell swoop by the SEC.
Barton sees this precedent set by the SEC approving multiple similar applications simultaneously as an indication they may do the same for spot bitcoin ETFs. With over a dozen such applications still outstanding, this could potentially clear the way for the long-awaited spot bitcoin ETF in one announcement.
Industry analysts seem to agree with Barton’s prediction. Bloomberg Intelligence and Cathie Wood of ARK Investment Management both stated the SEC approving all pending spot bitcoin ETF applications at once is a realistic outcome.
The excitement over a potential spot bitcoin ETF approval has been building, with many seeing it as an important step towards greater mainstream adoption of cryptocurrencies. Only time will tell if Barton’s forecast proves correct, but his experience filing the first ether ETF gives his prediction unique credibility. The cryptocurrency world awaits the SEC’s decision with bated breath.
