Bitcoin Spot ETF In January 2024: A New Player Just Joined The Game
30 Noviembre 2023 - 3:00PM
NEWSBTC
In the ongoing Spot Bitcoin ETF mania, Pando has joined the race
aiming to seize the opportunities that may arise following the
potential approval of BTC Spot ETFs by the US SEC. Pando
Submits Spot Bitcoin ETF Filing Switzerland-based asset management
company, Pando Asset has become the latest entrant into the Spot
Bitcoin Exchange Traded Fund (ETF) race. The investment firm
officially submitted its Spot BTC ETF filing to the United States
Securities and Exchange Commission (SEC) on November 29. Related
Reading: Crypto Analyst Who Sold The Bitcoin Top Reveals How To Buy
And Sell At The Perfect Time The news of the late filing comes as a
surprise to the crypto space, as the final dates for the SEC’s
decision on the Spot Bitcoin ETF approval approach. In the
filing, Pando Asset provided a lengthy outline of its Spot BTC ETF,
PBTC, highlighting its purpose, offerings, net asset value,
regulatory compliance, tax considerations, and other factors.
“The Trust was formed as a Delaware statutory trust on November 16,
2023. The purpose of the Trust is to own bitcoin transferred to the
Trust in exchange for Shares issued by the Trust. Each Share
represents a fractional undivided beneficial interest in the net
assets of the Trust. The assets of the Trust consist primarily of
bitcoin held by the Bitcoin Custodian on behalf of the Trust,” the
filing stated. Pando’s BTC Spot ETF brings the total number
of filed Spot Bitcoin ETFs in the crypto space to 13. Among them
are applications from prominent financial institutions such as
Grayscale, BlackRock, Ark Invest, WisdomTree, and others. The
crypto space is presently anticipating the approval of these ETFs,
as many crypto experts have predicted that a Bitcoin Spot ETF debut
could result in massive inflows for BTC which may trigger a bull
run. Spot ETF Approval Prediction While the crypto community
awaits the US SEC’s final verdict on Spot Bitcoin ETF approval, a
Bloomberg analyst, James Seyffart has predicted a favorable
approval outcome for BTC Spot ETFs. Related Reading: XRP Price
Prediction: Analyst Identifies 3 Key Factors That Will Trigger
Parabolic Move According to Seyffart, Spot Bitcoin ETFs could see
potential approval by January 10, 2024. His prediction has also
been backed by another ETF specialist, Senior Bloomberg analyst,
Eric Balchunas who gives a strong 90% likelihood for the approval
of Spot Bitcoin ETFs. “People asking me if we changed the
odds. No, we are still holding the line at 90% odds of approval by
Jan 10 (aka this cycle), the same odds we’ve had for months (before
it was cool/safe). What we are watching for now: more amended/final
filings to roll in and clarity on in-kind vs cash creates,”
Balchunas stated. BTC price makes its way toward $38,000 | Source:
BTCUSD on Tradingview.com Featured image from Coinpedia, chart from
Tradingview.com
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