In 2013, the Winklevoss brothers submitted an S-1 filing to the SEC, officially indicating their intention to launch a Bitcoin-linked ETF. They submitted another application in 2018, but both attempts were rejected by the SEC.
In August 2018, asset management firm VanEck submitted a Bitcoin spot ETF application but withdrew it in September. The firm submitted applications again in March 2021 and June 2022, both of which were rejected by the SEC.
In April 2021, asset manager Valkyrie Investments filed for a Bitcoin spot ETF, which was rejected by the SEC in December.
In May 2021, Fidelity filed for a Bitcoin spot ETF. The application was rejected by the SEC in February 2022.
In June 2021, ARK Invest partnered with Swiss ETF provider 21Shares to submit the ARK 21Shares Bitcoin ETF application. It was rejected by the SEC in April 2022. They reapplied in May 2022 and were rejected again in January 2023.
In July 2021, New York-based fund manager Global X submitted an application, which was rejected in March 2022.
In October 2021, Bitwise submitted its first application for a Bitcoin spot ETF, which was rejected in June 2022.
On October 19, 2021, the United States approved the first Bitcoin futures ETF.
Grayscale simultaneously filed to convert GBTC into a Bitcoin spot ETF. In June 2022, the SEC rejected the application, citing inadequate measures to prevent potential fraud. Grayscale sued the SEC and won the case in August 2023.
In December 2021, WisdomTree filed for a Bitcoin spot ETF, which was rejected in October 2022.
In April 2023, ARK Invest and 21Shares submitted their third Bitcoin spot ETF application.
In June 2023, BlackRock and Valkyrie filed Bitcoin spot ETF applications.
Between July and August 2023, WisdomTree, VanEck, Fidelity/Wise Origin, Bitwise, and Global X all re-submitted applications to the SEC.
On January 10, 2024 (Eastern Time), the SEC approved the first batch of 11 Bitcoin spot ETFs to be listed in the United States.
