The U.S. Securities and Exchange Commission (SEC) is on the brink of a decision regarding spot Bitcoin exchange-traded funds (ETFs). As the deadline approaches, 11 applicants have been actively submitting 19b-4 amendment forms. These forms are a crucial part of the SEC approval process, and their submission indicates that the final wording changes for the ETF filings are being discussed. The discussions involve investment management firms, stock exchanges, and the SEC.
The approval of spot Bitcoin ETFs could mark a significant shift in the way individuals purchase Bitcoin. Instead of relying on crypto exchanges or brokers, they could directly buy Bitcoin from the stock market. This development could benefit both institutional and retail investors, despite not addressing all the challenges in the crypto space.
Major players in the industry, including BlackRock, Valkyrie, Grayscale, Bitwise, Hashdex, ARK 21Shares, Invesco Galaxy, Fidelity, Franklin Templeton, VanEck, and WisdomTree, submitted 19b-4 amendments on January 5. The completion of S-1 documents, which these amendments signify, is required for U.S. exchanges to list shares of investment securities with direct crypto exposure.
There is speculation among industry watchers that the final approval for spot Bitcoin ETFs may be granted before January 10. The ongoing discussions between issuers and SEC officials have fueled this optimism. Some issuers even anticipate receiving final approval for their S-1 filings by late Tuesday or Wednesday.
While the SEC has requested minor changes, such as disclosures of fees or the identities of market-makers for the ETFs, these adjustments are expected to be completed by Monday morning. However, a recent Matrixport report casts doubt on the approval of all Bitcoin spot ETFs in January.
The report highlights that a crucial requirement for SEC approval remains unfulfilled. Despite frequent meetings and application refilings, meeting this requirement may not happen until Q2 2024. This uncertainty leaves the fate of spot Bitcoin ETFs hanging in the balance, with the industry eagerly awaiting the SEC’s decision in the coming weeks.
In other news, the FBI has seized over $100k worth of NFTs from a scammer following a probe into ZachXBT. In the world of crypto analysis, questions are being raised about whether KAVA is a good crypto. As we look ahead to 2023, the top 3 meme coins to buy are being identified. Lastly, the EU’s landmark MiCA legislation has been added to the Official Journal and is set to come into effect soon.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Invesco Galaxy, WisdomTree, Matrixport, Valkyrie, U.S. Securities and Exchange Commission, BlackRock, Bitwise, VanEck, ARK 21Shares, Hashdex, Grayscale, Franklin Templeton, FBI, Fidelity |
| Currencies | Bitcoin |
| Securities | Valkyrie, BlackRock, Bitwise, Hashdex, Grayscale |
