The SEC has published Bitwise’s application for a spot bitcoin ETF, triggering a 240-day countdown for the SEC to make a ruling on the proposal. Other firms like BlackRock and Fidelity are expected to have their ETF applications added to the register soon as well. The SEC has until August 13 to approve, deny, or delay a bitcoin ETF by 21Shares and Ark Invest. The initial rulings are seen as indicative of how the SEC will treat other proposals. However, approvals for bitcoin ETFs are expected to be challenging due to surveillance requirements from the SEC.

AI Sentiment: Neutral