Odaily News Bloomberg analyst James Seyffart pointed out that even if the SEC approves a spot Bitcoin ETF, the actual launch of the Bitcoin ETF will still be a month later. The launch of an ETF requires a two-step process. After obtaining SEC approval, the issuer also needs to wait for its 19b-4 filing to be approved by the SECs trading and markets department, and the S-1 filing also needs to wait for approval from the corporate finance department. (Cointelegraph)