Swan Bitcoin CEO Cory Klippsten said in an interview with Bloomberg that the Bitcoin spot ETF functions like an IOU for the product and is different from futures-based alternatives. Essentially, it represents a paper version of Bitcoin, but requires companies to back investors by purchasing actual Bitcoins.
“This is a great way for people to get exposed to Bitcoin and then hold more Bitcoin if they want to explore it more deeply,” Klippsten said.
Furthermore, Klippsten echoes the views of other cryptocurrency analysts who believe that a Bitcoin ETF is expected to be approved in January 2024. He expressed optimism: "The time window seems to have narrowed to January 8, 9 or 10. Given all the signals we are getting from the US SEC and people familiar with the matter, this seems to make sense." (Cointelegraph)
According to previous news, Bloomberg analyst James Seyffart said on the X platform that the approval window for spot Bitcoin ETFs is expected to be between January 5 and 10, 2024. According to the SEC filing, the comment period for Franklin/Hashdex ends on January 5 and the comment deadline for Ark/21 is January 10.