There’s ‘great hope’ for bitcoin spot ETF approval in 2024: Bitwise

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Grayscale’s legal head says bitcoin spot ETF approval is a 'matter of when, not if'

As the crypto market heats up in anticipation of a bitcoin spot ETF approval in the U.S., Katherine Dowling, general counsel and chief compliance officer at Bitwise Asset Management, is expecting good luck in the new year.

“I have great hopes for 2024,” Dowling said on TechCrunch’s Chain Reaction podcast. “My spidey sense is that they’re looking at January.”

The SEC missed its Friday deadline to appeal the August court decision regarding converting Grayscale’s Bitcoin Trust (GBTC) into a bitcoin spot ETF.

There have been a lot of obstacles in the way, including the lawsuit, that probably inhibited dialogue with regulators. “So the fact that we have resolution for that and that most recently they’re not taking an appeal stance is actually a great step forward.”

Dowling also noted there has been some engagement from the SEC with crypto S-1 filings, and amendments have been made there, too. “That all suggests some forward motion, and we had some hints that there wasn’t going to be an appeal” due to prior talks of a potential government shutdown.

Bitwise is a crypto asset manager that is known for creating the world’s largest crypto index fund. The firm also filed for a bitcoin spot ETF in the U.S., making it one of a number of firms, like BlackRock, whose applications are pending after the SEC delayed its decisions.

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