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More Options14/11/2023
Even if the spot bitcoin ETF is approved by Nov. 17, it is unlikely that it will be available for at least a month after approval. The SEC will likely approve all 12 pending spot bitcoin ETF applications by Nov. 17, including Grayscale Investments' conversion of its Grayscale Bitcoin Trust product.
Launching an ETF product is a two-step process, with issuers needing SEC and Division of Markets approval of a 19b-4 filing and Division of Corporate Finance approval of an S-1 filing, or prospectus, to issue a bitcoin ETF.
9 of the 12 bitcoin ETF applications have been filed by issuers that have filed revised prospectuses indicating that they have communicated with the Department of Corporate Finance.