The US Securities and Exchange Commission has not yet approved an ETF that would hold bitcoin directly, though some expect that to soon change. 

The regulator is set to rule on a proposal by Ark Invest and 21Shares — and potentially similar filings by a dozen others — by Jan. 10. 

Bloomberg Intelligence analysts have said they believe the chance of spot bitcoin ETF approval by that date is about 90% — an estimate former SEC executive John Reed Stark recently called “absolutely absurd.”

The issuers hoping to launch these products range from the largest asset manager in the world, to smaller, more specialized firms. A Switzerland-based fund group threw its hat in the ring last…

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