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Factbox-How close are crypto markets to first spot bitcoin, ether ETFs?


(Reuters) – A spate of filings for spot bitcoin and ether exchange-traded funds (ETFs), including from traditional finance heavyweights, has revived the crypto market that had been crushed by a series of meltdowns last year.

A spot crypto ETF would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. The SEC has previously denied all spot bitcoin ETF applications citing potential for fraud, but that could soon change after it lost a legal battle in August.

Here is a pipeline of filings for spot bitcoin ETFs awaiting approval:

Company Trust/ETF Filed on Exchange Latest

name development

BlackRock iShares June 2023 If The world’s

Bitcoin approved, largest asset

Trust will trade manager filed

on Nasdaq for the spot

and use bitcoin ETF in

Coinbase June buoying

Custody as crypto markets

crypto globally.

custodian

and BNY

Mellon as

cash

custodian

Grayscale Grayscale Is seeking NYSE Arca In August, a

Investments Bitcoin to convert federal

Trust its spot appeals court

Grayscale ruled the SEC

Bitcoin was wrong to

Trust into reject an

an ETF application

from Grayscale

to create a

spot bitcoin

exchange-trade

d fund.

Fidelity Wise June 2023 Cboe Fidelity

Origin Global refiled its

Bitcoin Markets application in

Trust late June

after media

reports said

the SEC found

the initial

paperwork to

be

incomprehensiv

e.

Ark Invest ARK June 2023 Cboe BZX The paperwork

and 21Shares Exchange was refiled on

21Shares Bitcoin with June 28 for

ETF Coinbase the third time

Custody as with the SEC

the after the

custodian regulator said

of the its initial

trust prospectus

didn’t meet

the

requirements

to prevent

fraud and

market

manipulation.

WisdomTree WisdomTree June 2023 Cboe BZX It was refiled

Bitcoin Exchange for approval

Trust with U.S. on June 20

Bank, N.A. after two

as previous

custodian rejections.

Valkyrie Valkyrie June 2023 Nasdaq It filed with

Digital Bitcoin with the SEC on

Assets Fund Coinbase June 21 to

Custody as launch under

the the ticker

custodian BRRR. The SEC

of the had in Dec

trust 2021, rejected

a previous

filing by NYSE

Arca to list a

spot bitcoin

ETF by

Valkyrie.

Invesco and Invesco Amended Cboe BZX Invesco

Galaxy Galaxy Oct 2023 reactivated

Digital Bitcoin its Sept 2021

ETF application to

launch the

ETF.

HashDex HashDex In Sept, NYSE Arca SEC has

Spot 2023, delayed the

Bitcoin filed to decision on

ETF convert the

bitcoin application.

futures

ETF into a

spot

bitcoin

ETF

Here is a pipeline of spot ether ETFs awaiting approval:

Company Trust/ETF Filed Exchange Latest

name on development

Ark Ark Sept Cboe BZX Awaiting SEC

Invest-21S 21Shares 2023 Exchange approval. Both

hares Ethereum the companies

ETF partnered to

launch another

suite of

crypto-tied

ETFs this

month.

BlackRock iShares Nov Nasdaq Officially

Ethereum 2023 filed on Nov.

Trust 16, awaiting

SEC approval.

Here are some ether futures-tied ETFs that have been approved recently:

Company Managed by

VanEck Ethereum VanEck

Strategy ETF

Bitwise Ethereum BitWise Asset Management

Strategy ETF

Bitwise Bitcoin BitWise Asset Management

and Ether Equal

Weight Strategy

ETF

Valkyrie Bitcoin Valkyrie Funds

and Ether

Strategy

ProShares Ether ProShares

Strategy

ProShares ProShares

Bitcoin & Ether

Equal Weight ETF

ProShares Short ProShares

Ether Strategy

ETF

ProShares ProShares

Bitcoin & Ether

Market Cap

Weight Strategy

ETF

Sources: filings, media reports, company statements

(Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Michelle Price and Shounak Dasgupta)





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