Scott Johnsson, a notable attorney from Davis Polk, has drawn attention to a closed-door meeting scheduled for November 2, which could potentially shed light on the approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC). The meeting, which is not open to the public, will focus on resolving litigation claims and administrative proceedings. This development comes after the SEC decided not to contest the US Court of Appeals for the District of Columbia Circuit’s judgment in favor of Grayscale’s bid to convert its Bitcoin Trust (GBTC) into a spot Bitcoin ETF. The Bitcoin community is closely watching this situation, especially following the successful launch of the ProShares Bitcoin Strategy ETF (BITO) on October 19, which quickly accumulated over $1 billion in assets. Bloomberg had previously reported a leak from a closed SEC meeting in October, suggesting that the SEC was poised to allow the first US Bitcoin futures ETF to begin trading. With Grayscale’s spot Bitcoin ETF in the spotlight, there is speculation about whether the SEC will approve only Grayscale or all applicants simultaneously. The SEC has recently received numerous amendments from applicants such as BlackRock, Fidelity, Ark Invest, and VanEck, leading Bloomberg’s ETF experts to believe that a Bitcoin ETF approval may be imminent. However, there are also concerns that SEC Chairman Gary Gensler may unexpectedly reject spot Bitcoin ETF applications. Despite the hopeful signs, some analysts consider this possibility to be “amazingly sadistic.” At present, Bitcoin is trading at $34,314.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	1
People	Scott Johnsson
Companies	BlackRock, Council of Economic Advisors (CEA), Valkyrie, Davis Polk, Fidelity, VanEck, Bloomberg, White House (WH), Grayscale, US Securities and Exchange Commission (SEC), ProShares, Ark Invest
Currencies	Bitcoin
Securities	None