Spot Bitcoin ETFs Closer To Reality As SEC Meetings Progress
The U.S. Securities and Exchange Commission (SEC) has actively engaged with major exchanges, including the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE), in discussions about spot bitcoin exchange-traded funds (ETFs).
Reports from sources close to the proceedings suggest that the SEC might start notifying spot bitcoin ETF issuers of approval on Friday, with potential trading commencement as early as next week. The SEC has specifically requested exchanges to revise and finalize their 19b-4 filings on behalf of spot bitcoin ETF issuers, a crucial step for SEC clearance before public sale.
While the final decision remains pending, insiders anticipate an official announcement from the SEC early next week, with Bloomberg analyst James Seyffart pinpointing the window between January 8th and January 10th. Despite not guaranteeing approval, industry observers consider the surge in applicants filing 8-A forms with the SEC for spot bitcoin ETFs a positive sign in the lead-up to potential regulatory clearance. SEC’s ongoing final comments suggest that the approval is “as close to ‘done’ as we’ve been,” according to Bloomberg ETF analyst Eric Balchunas.
Clever Robot News Desk 6th January 2024
