According<\/a> to Charles Gasparino of Fox Business, financial firms feel confident that the Securities and Exchange Commission (SEC) is going to rule in favor of approving spot Bitcoin Exchange-Traded Funds (ETFs) after January 8, 2024.<\/p>\n Gasparino’s post also stated that shares the of Bitcoin ETFs will only be available to purchase with cash, rather than also with bitcoin. As the regulator is “worried about ETF’s being used as a vehicle for money laundering.” Over the course of the past few weeks, spot Bitcoin ETF issuers like BlackRock have been meeting<\/a> with the SEC to discuss the final details of their ETFs. There was one topic in particular that the regulator was meeting with issuers about, and that was in-kind vs in-cash\u00a0creations\u00a0for shares of the ETFs.\u00a0<\/p>\n Bloomberg senior ETF analyst Eric Balchunas commented<\/a> on the news, saying, “SEC worried about money laundering via in-kind creations in a spot bitcoin ETF<\/a>, this is why they so dug in on cash creates only (which is a much more closed system).”<\/p>\n Earlier this week, BlackRock and other ETF issuers complied with the SEC and filed their ETFs to be in-cash for creations. To be clear, the ETFs will hold spot bitcoin, but the process of purchasing shares of the ETF will be in cash, meaning investors will give their cash to their preferred ETF issuer who will then go and purchase the spot bitcoin to hold in the ETF.\u00a0<\/p>\n