• The number of firms filing for approval for a Bitcoin ETF continues to rise.
  • Nate Geraci, president of The ETF Store, told Insider he believes one will be approved this year.
  • He also shared how investors can best navigate the approval process.

The race to get a bitcoin exchange-traded fund approved in the US looks as if it will come to a head at some point in 2021.

One key reason is that the underlying cryptocurrency keeps climbing to new highs as demand and investor interest grow. On Tuesday, bitcoin’s price topped the peak it had set in March and rose above $63,000, a day before the Coinbase IPO that would mark crypto’s pure-play debut on the US stock market.

Big names like Fidelity and Grayscale have thrown their hats into the ETF ring, making it around 10 firms that are or will be vying for approval from regulators.

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