As we mentioned as the beginning of the year, there are still several parties working towards that coveted ETF approval from the US Government.

Last Thursday, VanEck has announced that if their latest filing on January 30th is approved by the SEC, they will be able to list shares of an ETF Bitcoin Trust on the Cboe BZX exchange.

To evade potential rejection from the SEC due to the shutdown of the US Government, they had withdrawn the ETF proposal earlier in January. The deadline for an SEC decision was February 27th, but since there is a rule change in this filing it will set a new 240 day countdown once it is published in the Federal Register.

The official filing documentation.
The official notice of filing documentation.

Gabor Gurbacs, Digtal Asset Strategist & Director for VanEck, is extremely enthusiastic about the ETF finally getting the approval this year. However, please don't let the hype get to your emotions and muck up your original trading plan. I know that everyone likes to correlate an ETF related announcement to a movement in the charts on Bitcoin. That is simply not the case the majority of the time. Proper TA will tell you whats coming, the news effect is mostly negligible in crypto and if anything, only accelerates a given scenario on the chart. Regardless, I am still a fan of more futures contracts being available to more investors.