Analysts predict that the US Securities and Exchange Commission (SEC) could approve spot bitcoin exchange-traded funds (ETFs) by January. The SEC may issue approvals in batches to prevent perceptions of favoritism and signal eventual approval. However, even with preliminary approvals, the process requires additional filings before ETF shares can be issued and listed for trading. The SEC has expressed concerns about potential manipulation and custody risks of bitcoin ETFs but is under growing pressure to sanction them as futures-based crypto funds are already trading. Many expect 2023 to be the year bitcoin ETFs hit the US market, but the exact timeline remains uncertain.
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