13 Issuers Ready for Spot Bitcoin ETF Launch

More than a dozen exchange-traded fund issuers have filed with the Securities and Exchange Commission to launch a spot bitcoin ETF. Who are the issuers, and if the SEC approves, how soon after the launch will the funds be available to investors? 

Spot Bitcoin ETF Issuers and the SEC 

To gain approval for a spot bitcoin ETF to be listed and traded on a national securities exchange, the issuer applies to the SEC with a 19b-4 filing, at which time the timeline for review begins. The first filing under SEC consideration is a joint application from Ark Invest and 21 Shares filed on April 25, 2023. Based on the SEC’s review timeline, a decision is due by January 10, 2024. The SEC is widely expected to approve multiple bitcoin ETFs together. 

To date, there are 11 issuers that have filed for a spot bitcoin ETF, plus one issuer, Grayscale, applying to convert a bitcoin trust fund into an exchange-traded fund, and another issuer, Hashdex, wanting to change strategies from a futures-based fund into a spot ETF. Some of the largest ETF issuers in the investment universe, including BlackRock, Fidelity and Invesco, have also joined the race to a spot bitcoin ETF launch. 

The 13 Spot Bitcoin ETFs and Issuers 

Note: The Grayscale fund is a conversion and the Hashdex fund is a strategy change. Global X and Franklin Templeton have not announced a ticker symbol as of December 26, 2023.

When Will Spot Bitcoin ETFs Be Available to Investors? 

Since SEC has until Jan. 10 to rule on a proposed spot bitcoin ETF by Ark Invest and 21Shares, crypto market observers expect a decision by or just before that date. After the decision is made, assuming it’s an approval, the SEC will need to sign off on the Form S-1s for a spot bitcoin ETF launch, making the funds available to investors. The time frame between the formal approval and the launch date could be as brief as a day or two or as long as weeks.