{"id":13806,"date":"2021-10-16T17:51:30","date_gmt":"2021-10-16T17:51:30","guid":{"rendered":"http:\/\/ci028fdb2600002478"},"modified":"2025-03-24T15:20:24","modified_gmt":"2025-03-24T20:20:24","slug":"grayscale-spot-bitcoin-etf-soon","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/grayscale-spot-bitcoin-etf-soon","title":{"rendered":"A Grayscale Bitcoin Spot ETF Could Be Right Around The Corner"},"content":{"rendered":"
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We could have the first spot Bitcoin ETF<\/a> on the market near the end of this year, as Grayscale intends to file for SEC approval for its product by \u201cearly next week,\u201d<\/strong> according to CNBC<\/a>. Grayscale’s intention is to convert their Bitcoin Fund ($GBTC) into a spot Bitcoin ETF.<\/p>\n

The official Grayscale filing will kick off a 75-day review period for the SEC to either approve or deny <\/strong>the proposed spot Bitcoin ETF, a first of its kind, physically-settled, bitcoin financial product.<\/p>\n

Bitcoin Futures ETF Opens The Door<\/h2>\n

After the approval for a Bitcoin futures ETF by companies ProShares and Valkyrie<\/a>, the action appears to have opened the door for an immediate path to a physically-settled Bitcoin ETF<\/strong> coming to market. <\/p>\n

Founder and CEO of Digital Currency Group, Barry Silbert, had Grayscale’s application for a spot ETF waiting in his back pocket for the SEC to allow Grayscale competitors<\/a> to enter the market.<\/p>\n

\u201cThe investment firm had intended to file its application to the Securities and Exchange Commission as soon as the agency allowed efforts by competitors for a futures-based bitcoin ETF, said the person. That happened late Friday,\u201d CNBC<\/em><\/a> reported.<\/p>\n

The approval of bitcoin ETF products enables a more competitive landscape, and also unlocks new pools of capital<\/strong> from different pockets of traditional financial institutions that were previously facing too many hurdles to get exposure to Bitcoin. <\/p>\n

How Is A Bitcoin Spot ETF Different? <\/h2>\n

A spot ETF product tracks the Bitcoin price closer than a futures ETF. The spot price of Bitcoin is the current USD cost for immediate purchase and delivery. Being physically-settled, with instant delivery, a spot product would be able to more-closely track the price of Bitcoin and reduce uncertainty<\/strong> that comes with an ETF tracking a projected future price.<\/p>\n

\u201cA bitcoin \u201cspot\u201d ETF would be better for investors, both from a price tracking and fee structure standpoint.\u201d<\/em>\u2014 Anthony Pompliano, Morgan Creek Digital Assets<\/a> <\/p>\n

If approved, the timing for Grayscale\u2019s Spot ETF comes at an intriguing moment in the market. Bitcoin continues to push over $60,000 USD and is eyeing previous all time high prices.<\/strong> All while fresh off a bitcoin mining ban in China<\/a>, and as U.S. politicians continue to signal support<\/a> for the nascent digital asset.<\/p>\n","protected":false},"excerpt":{"rendered":"

We may see a physically-settled, spot Bitcoin ETF on the market sooner than later, as Grayscale announces intention to file early next week.<\/p>\n","protected":false},"author":3769,"featured_media":3800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[944,294],"class_list":["post-13806","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-etf","tag-grayscale"],"author_data":{"id":3769,"name":"Nick Ward","nicename":"nick-ward","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/03\/IMG_4366.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bitcoin-spot-etf-approval-grayscale-image-1920x1080-1.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3769"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=13806"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/3800"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=13806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=13806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=13806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}