As the crypto market continues to gain momentum in anticipation of a potential bitcoin spot ETF approval in the United States, Katherine Dowling, the general counsel and chief compliance officer at Bitwise Asset Management, expresses optimism for the year ahead. Dowling believes that 2024 holds great potential, with a strong inclination that regulatory authorities may be looking towards January as a significant milestone.
Key Takeaway
Katherine Dowling, general counsel of Bitwise Asset Management, is optimistic about the approval of a bitcoin spot ETF in 2024. The recent missed deadline by the SEC to appeal a court decision and engagements with crypto S-1 filings indicate progress towards the goal. Bitwise is one of several firms with pending applications awaiting the SEC’s decision.
The Securities and Exchange Commission (SEC) recently missed its deadline to appeal the court decision made in August regarding the conversion of Grayscale’s Bitcoin Trust (GBTC) into a bitcoin spot ETF. This missed deadline, along with the resolution of the lawsuit, indicates a positive step forward for the industry.
Despite previous obstacles and limited dialogue with regulators, Dowling points out that there has been engagement from the SEC regarding crypto S-1 filings. Amendments have also been made, suggesting progress in the right direction. Furthermore, there have been indications that an appeal is unlikely due to previous discussions of a potential government shutdown.
Bitwise Asset Management, a prominent crypto asset manager renowned for creating the world’s largest crypto index fund, has filed for a bitcoin spot ETF in the U.S. Their application is among several pending decisions, including those from firms like BlackRock, as the SEC deliberates on the matter.
