The SEC was instructed last week to revisit its earlier denial of the Grayscale Bitcoin Trust (GBTC) conversion, with no automatic implication of approval.
The regulatory authority has recently confirmed postponements for all six of the pending ETF applications.
They would participate in pre-approved bitcoin futures ETFs.
Jacobi initially gained approval for the fund in October 2021, intending to launch it in 2022. Nonetheless, the company chose to postpone its launch due to unfavorable conditions in other segments of the digital asset market.
The regulatory body is currently examining over a dozen applications for spot Bitcoin and Ether futures-based ETFs.
Despite the declining trading volume, all indicators strongly suggest an imminent break-out.
If granted, the fund will assess 'the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts.'
There are valuable insights to be gleaned from the introduction of the inaugural Gold ETF, yet delving into history requires a cautious approach as well.
The submission of applications from industry behemoth BlackRock and other players has fueled speculation that approval will soon be given.
In contrast to publicly disclosed Bitcoin ETF filings, an Information-Sharing Agreement obliges a cryptocurrency exchange to provide trading data, including personal details like a customer's name and address.