The chief investment executive at Volatility Shares, Stuart Barton, draws its expertise in crypto-related exchange-traded funds (ETFs) to predict that the US Securities and Exchange Commission (SEC) will likely approve the pending bids for elusive ETFs together. The company cites the recent move by the Gary Gensler-led SEC to approve the Ethereum Futures ETF together.
Barton supports the market analysts’ view that the SEC could pull off another surprise to approve the 12 bids for spot Bitcoin ETF. Volatility Shares’ chief investment executive leans towards a simultaneous approval of the applications.
Volatility Shares Optimistic of Spot-Bitcoin ETF Approval
Barton confirmed that Volatility Shares could replicate the mid-2023 achievement of securing the inaugural Bitcoin futures ETF. The executive hailed the firm’s achievement in becoming the pioneer leveraged crypto ETF in the United States.
Barton indicated that Volatility Shares opened the account for ether futures-based ETF. The executive admits that the SEC had repeatedly dismissed previous applications. However, other applicants would mirror Volatility Shares by submitting bids for Ether futures ETF.
Barton admits that many Ether futures ETFs unveiled their trading in October. He regrets that despite Volatility applying first, it delayed launching its ether ETF. Consequently, it missed the first mover advantage since the SEC approved the applications together.
The Volatility Shares’ investment head considers the SEC setting a precedent it would replicate when considering a dozen applications for spot-Bitcoin ETFs.
Barton restates the firm’s optimism in ether ETF. He dismisses the slow start, where the first-day trade was estimated below $2 million, and poor volumes witnessed across the week. As such, he supports the proposal to reinvent the product.
Barton reveals that they could launch the Ether ETF any day, though admitted that Volatility could leverage the opportunity to explore why the existing products suddenly became so unpopular. He labeled the experience weird that Ether ETFs became so unpopular while Bitcoin’s derivative triggered a billion-dollar rally in two days.
Barton considers the possibility of Volatility exploiting the delayed debut to alter the design. The investment executive reiterated that Volatility would keep the perspective till it reaches the ultimate decision on what to execute.
Barton considers that the hype surrounding spot-Bitcoin ETFs has existed for an extended period. The excitement already hit the retail investors, with Coinbase indicating that the investors partially priced the spot-Bitcoin ETF approval in the prevailing prices.
The unprecedented development of a false publication that SEC already approved of BlackRock’s spot-bitcoin bid fuelled the Bitcoin (BTC) exchange value to the $30000 level. The rumor traced to a publication by the crypto news platform Cointelegraph triggered nearly $100M in liquidations in barely an hour.
Investors’ Community Predict Simultaneous Spot Bitcoin ETF Approval
US-based financial services multinational JPMorgan recently projected that the spot Bitcoin ETF approval would happen in months. The financial giant considered the approval could occur sooner before January 10, which coincidentally is the final deadline identified for the Ark 21Shares application.
Bloomberg Intelligence analysts rooted for the simultaneous approval of the spot-Bitcoin ETF bids. The pronouncement won support from Ark Invest chief executive Cathie Wood that the SEC would likely accept the pending applications just as it did for Ether ETFs.
Barton’s view arises from the experience of missing out on realizing the first mover advantage despite tabling the initial bid for the Ether ETF. Also, the Volatility’s executive considers that the successful approval of the ether ETFs together enabled the SEC to win the public litmus test. As such, the regulator avoided legal challenges that recently have dented its reputation following a series of losses against Ripple (XRP) and Grayscale Investment (GBTC).
Barton considers the SEC created a template that it would likely replicate to approve a dozen applications for the spot-Bitcoin ETF from Grayscale, WisdomTree, Bitwise, and VanEck. Despite BlackRock’s early application in June, its approval would occur alongside bids by 21 Shares & Ark, Valkyrie, Fidelity, and Global X. Also on the waiting list are Invesco & Galaxy application, Franklin, and new entrant Hashdex.
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