Shortly after several potential spot Bitcoin exchange-traded fund (ETF) issuers sent the U.S. Securities and Exchange Commission (SEC) documents detailing their fees, the regulator responded with minor adjustments that should not affect the timeline for a potential approval.
These issuers include BlackRock, Grayscale, and Fidelity, and the recent interaction suggests that active discussions between the SEC and aspiring ETF issuers are ongoing.
The regulator faces a January 10, 2024 deadline for the ARK and 21 Shares application for a spot Bitcoin ETF, with some analysts believing the SEC will approve several Bitcoin ETFs at once on that date.
Late last week, key exchanges submitted amended 19b-4 filings with the regulator on behalf of prominent issuers, joining amended S-1 filings from last month that addressed feedback from the SEC.
The regulator has to give the green light to both the 19b-4 filings and the S-1 filings prior to the ETFs’ debut. Bitcoin ETF proponents believe such a regulated investment product could allow traditional financial institutions to gain exposure to BTC, without needing a wallet.
The SEC has rejected every spot Bitcoin ETF application so far, with the first one dating back to 2013.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/jan/09/
