The crypto market, which experienced significant setbacks last year, is making a bold comeback with a flurry of filings for spot bitcoin and ether exchange-traded funds (ETFs). Notably, even traditional finance heavyweights are joining the race. These ETFs would mirror the market price of the respective crypto assets, providing investors with exposure to the tokens without requiring them to directly purchase the currencies.
Previously, the SEC had consistently denied all spot bitcoin ETF applications due to concerns about potential fraud. However, a legal battle lost by the SEC in August may lead to a change in their stance. This development offers a glimmer of hope for the approval of spot bitcoin ETFs.
While we await approval for various spot bitcoin ETFs, there also exists a pipeline of spot ether ETFs seeking regulatory approval. Additionally, a number of ether futures-tied ETFs have already been given the green light.