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The approval of Bitcoin spot ETF comes at a critical moment this week! Five details worth paying attention to

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Jan 19, 2024 pm 05:27 PM

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The approval of Bitcoin spot ETF comes at a critical moment this week! Five details worth paying attention to

The SEC is expected to approve the first Bitcoin spot ETF during the critical window period from January 8 to January 10, and the market is full of expectations. Nate Geraci, president of The ETF Store, a registered investment advisor, shared on X the five things he will be watching for.

Fees Disclosure

First, Nate Geraci will focus on the remaining publisher fee disclosures. He pays particular attention to BlackRock and Grayscale, arguing that the importance of fees cannot be ignored. Currently, Fidelity leads the way with a fee of 0.39%, while Invesco charges 0.59% (although it’s free for the first 6 months). These rate data will be an important indicator for him to research and evaluate these issuers.

The approval of Bitcoin spot ETF comes at a critical moment this week! Five details worth paying attention to

The current status of handling fees for various spot ETFs

Wednesday will be a critical time

In addition, Nate Geraci believes that there are concerns about U.S. securities trading Whether the Commission (SEC) will approve spot ETFs, Wednesday is a critical time point.

The SEC’s Division of Trading and Markets must approve Form 19b-4, a required step for exchange rule changes. At the same time, the company's financial department must also sign and confirm the S-1 form. The key is getting 19b-4 approved, something he is very much looking forward to.

Issuers’ funding scale

If the ETF is launched on Thursday as expected, Nate Geraci is very curious about the size of the issuer funding that has been queued up.

There are currently rumors that BlackRock may have $2 billion ready. How much will Fidelity, Invesco and others bring in? He believes that ARK may purchase more than $200 million to replace its GBTC holdings in ARKW.

Will GBTC be converted along the way?

Nate Geraci is also speculating whether GBTC will be converted/listed on the same day as other issuers launch?

Because based on executives’ tweets, filings, actions and messages, Nate Geraci believes they will work in this direction. He believes this is also a major benefit to the market because GBTC currently has $27 billion in assets. . Assuming it launches, it will automatically become one of the top 60 ETFs by AUM.

The approval of Bitcoin spot ETF comes at a critical moment this week! Five details worth paying attention to

Publisher’s Advertising Strategy

Nate Geraci will continue to pay attention to the publisher’s marketing strategy and has already seen advertising releases from Bitwise, Hashdex and VanEck. Out...

What else are BlackRock, Fidelity, Invesco, ARK, Grayscale and others planning? Advertising rules under the Securities Act of 1933 (the spot Bitcoin ETF structure) are much stricter, and Nate Geraci will see some interesting creativity here.

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