A decision is due on the Bitwise Bitcoin ETP trust ETF. It is a physically backed (spot) ETF and as such could dramatically increase demand for Bitcoin, as currently only futures contract based ETFs have been approved.
There have been a string of rejections by the SEC for spot Bitcoin ETFs and it is likely the regulatory environment will have to change before one is approved. Regardless, with each application there is increased pressure on the SEC and interest from financial institutions. Typically an announcement regarding denial or delaying the decision is made before the actual due date. This date is just the latest the SEC can make an announcement. If it is approved, there normally isn’t any announcement until the product is ready to be released – no news by this date would be good news.
More information regarding Bitcoin ETFs can be found here.
