Grayscale, VanEck filed key paperwork indicating progress toward a spot ETF, prompting analysts to anticipate potential approvals starting as soon as this week.

What Happened: Grayscale Bitcoin Trust (OTC:GBTC) on Thursday filed a Form 8-A registration with the SEC, following Fidelity's similar filing on Jan. 3. Also, VanEck Bitcoin Trust went ahead and filed its registration of securities with the SEC. 

Walter Bloomberg tweeted the filings showed advancement for applications. He noted Form 8-A allows trading on an exchange, and that filing the form is a major step towards the potential approval of a spot ETF.

Read Also: Spot Bitcoin ETF Debate Heats Up: 'We Have Heard Nothing To Indicate Anything But Approval'

Experts/Analysts Takes: Bloomberg analyst James Seyffart believes the SEC could start indicating approvals as early as Friday. He added: “I'm still expecting official approvals Jan 8 – 10. I also think the gap between approval orders and actual trading will be measured in days — not weeks.”

ETF expert Nate Geraci cited Bloomberg reporter Yueqi Yang: “Coinbase ready for spot bitcoin ETF launches…All systems go.”

Veteran crypto trader, Ash Crypto predicted Bitcoin to peak at $250,000 and provided an explanation.  He says, “TRILLIONS ARE ABOUT TO FLOW IN CRYPTO, BITCOIN WILL PUMP HARD WHICH WILL SEND MANY ALTCOINS TO 100X & YOU STILL NOT BULLISH?”

The renewed optimism around a landmark U.S. spot ETF launch was reflected in a price rebound on the cryptocurrency markets.

Read Next: Bitcoin ETF Could Be Just Days Away — Are You Ready?

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