---
title: "Bitcoin Spot ETF Approval On The Horizon, Say VanEck & Bitwise Leaders"
url: https://diffcoin.com/bitcoin-spot-etf-approval-on-the-horizon-say-vaneck-bitwise-leaders/
description: "SEC stance on crypto ETFs softening say VanEck and Bitwise leaders, spot Bitcoin product approval likely in 2024."
published: 2023-10-03
updated: 2023-10-03
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Spot ETF Approval On The Horizon, Say VanEck & Bitwise Leaders

#### Share this article

In an interview yesterday with CNBC, Jan van Eck, CEO of investment firm VanEck, said he thinks “early in 2024 we’ll probably see a spot product” get the green light from the Securities and Exchange Commission (SEC).

Sharing a similar outlook, Matt Hougan, Chief Investment Officer of crypto investment firm Bitwise, said in an interview on CNBC yesterday that he “expect[s] we’ll see a spot bitcoin ETF this calendar year.”

> Issuers clearly feeling more confident in SEC approval of spot bitcoin ETFs. Comments on CNBC today…
> 
> Bitwise CIO Matt Hougan: “I expect we’ll see a spot bitcoin ETF this calendar year.”
> 
> VanEck CEO Jan van Eck: “It looks like early in 2024 we will probably see a spot product.”
> 
> — Nate Geraci (@NateGeraci) [October 2, 2023](https://twitter.com/NateGeraci/status/1708954390701236544?ref_src=twsrc%5Etfw)

The optimistic outlook comes on the heels of a key legal victory last month when the D.C. Circuit Court ruled in favor of Grayscale’s application to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF. The decision was considered an important precedent for the industry.

The SEC has thus far denied over a dozen applications for spot bitcoin ETFs, citing concerns around volatility, liquidity, and the potential for manipulation. However, the recent approval of futures-based bitcoin ETFs from firms like VanEck and ProShares, combined with the Grayscale decision, suggests the agency may be warming up to the idea.

According to Van Eck, the SEC “is relaxing their stance and allowing some of these funds to get to market.” Hougan echoed this, saying “dialogue with the SEC has been improving” and that the agency seems to be “changing its tune.”

The approval of a spot bitcoin ETF would allow mainstream US investors easy access to direct bitcoin exposure through normal brokerage accounts for the first time. Other major financial firms like BlackRock, Fidelity, and Invesco also have spot bitcoin ETF applications pending with the SEC.

#### Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

[Source link](https://cryptobriefing.com/bitcoin-spot-etf-approval-horizon-vaneck-bitwise/?utm_source=feed&utm_medium=rss)