El Salvador's Central Reserve Bank (BCR) has a list of 106 registered bitcoin service providers that can generate more employment opportunities in the country, according to the financial institution's website.

It is estimated that, with this number of registered companies, the number of bitcoin companies already operating in El Salvador has increased by more than 100% in a matter of almost two years. This, taking into account that by the beginning of 2022 there were only about 45 registered companies.

James Seyffart, another Bloomberg analyst, said the firm seems to prefer redeeming the fund in bitcoin, as it considers this to be the "cleanest and most efficient structure for end investors."

Another sign that the process among the applicant companies is moving forward with the SEC, is that Grayscale, a company that also wants to launch a spot bitcoin ETF, made an amendment to its proposal.

The changes were similar to those made by BlacRock. In this case, Grayscale has decided that the primary method of creating/redeeming its shares will be in-kind.