What is a Bitcoin spot ETF and when will the first one get approved?

Last October, the SEC approved the first-ever Bitcoin futures ETF, which enabled investors to gain indirect BTC exposure through a popular investment vehicle. But Proshare’s “Bitcoin Strategy ETF” doesn’t hold BTC directly — it holds something called BTC futures contracts. So, when might the SEC approve a “BTC spot ETF” that holds the cryptocurrency directly? 

In the latest episode of Around the Block, host Justin Mart dives into this question and more with Michael Sonnenshein, the CEO of Grayscale, the world’s largest digital asset manager and the firm behind the Grayscale Bitcoin Trust.