Crypto News – The US Securities and Exchange Commission has given applicants for a spot Bitcoin exchange-traded fund (ETF) a short window of time to complete their paperwork in order to meet the impending deadline.
Spot Bitcoin ETF Deadline: SEC Gives Applicants Until December 29
Reuters said that the SEC has given spot Bitcoin ETF applicants until December 29 to submit their final S-1 modifications. The report states that representatives of at least seven companies that plan to introduce spot Bitcoin ETFs in early 2024 met with SEC authorities on December 21.
A first wave of prospective spot Bitcoin ETF approvals in early January will not include any issuer who misses the deadline of December 29. This was apparently communicated by regulators to attendees of the meetings. Among the first to report on the deadline was Eleanor Terrett, a journalist for Fox Business. The deadline of December 29 for making final revisions to all S-1s was later verified by Terrett.
The SEC told issuers that applications that are fully finished and filed by Friday will be considered in the first wave,
Terrett
The AP Agreement is the Last Obstacle for ETFs, Balchunas Says
It has been reported that the SEC requires Bitcoin ETF filers to list the authorized participants (AP) in their filings in addition to the requirement for cash-only transactions. The AP deal will be the final obstacle to Bitcoin ETFs, predicts Eric Balchunas, an ETF expert at Bloomberg.
This is no easy last step, and may keep some from starting gate. AP agreement + cash creates = approval,
Balchunas
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