Crypto News- It appears that we are on the cusp of witnessing the launch of spot bitcoin exchange-traded funds (ETFs) in the United States. Notable players in the financial landscape, such as BlackRock, Grayscale, and Fidelity, have taken a significant step by filing amended documents, signaling their hopeful anticipation of approval from the U.S. Securities and Exchange Commission (SEC) in the coming days.
Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges
These amended filings, submitted under 19b-4 on behalf of various issuers, come on the heels of last month’s revisions to the S-1 filings, a move aimed at addressing feedback from the SEC. With over a dozen applicants vying to pioneer the first spot bitcoin ETFs in the U.S., there is a prevailing expectation that multiple issuers might receive simultaneous approval.
Representatives from two different issuers have conveyed their optimism, expressing expectations of approvals in the upcoming week. However, they caution that the amended filings do not serve as a guarantee, but rather reflect a hopeful outlook. The final deadline for SEC action on at least one application, filed by Ark 21 Shares, looms on January 10, suggesting that the regulator might greenlight all final applications it deems suitable by that date.
U.S. Bitcoin ETF Approval Nears with Major Players’ Filings
Grayscale, a prominent figure in the cryptocurrency space, views these filings as a pivotal move towards transforming its bitcoin trust, GBTC, into a spot bitcoin ETF. A spokesperson from Grayscale highlighted the ongoing collaboration with the SEC, expressing a state of readiness to operate GBTC as an ETF upon regulatory approval.
Recent reports from Bloomberg indicate that the SEC’s commissioners are poised to vote on the exchange-rule filings in the upcoming week. Both the 19b-4 filings and the S-1 filings must secure approval from the regulatory agency before the ETFs can officially make their market debut. This unfolding development underscores the escalating interest and concerted efforts within the cryptocurrency industry to introduce regulated investment vehicles for digital assets in the expansive U.S. market.
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