Sources that follow the issue closely shed light on the process that will follow after the approval of spot Bitcoin ETF applications.
US Securities and Exchange Commission (SEC) According to 3 sources who closely witnessed the spot Bitcoin ETF process spot Bitcoin ETFs could open for trading next week. of The Block Looking at the details of the news based on the sources, SEC’s first Approval of 19b-4 forms and then S-1 forms come into force It needs to enter.
Although sources emphasize the possibility that this process may not take place on the same day, once the form approvals are received, ETFs can be traded on the stock exchange after 1-2 days. But above all, applicants and exchanges they need to prepare some final applications.
Many applicants comply with the SEC’s demands. FORM 8-A updated filesOn January 4th conveyed. But it remains unclear whether further changes will be required. According to sources Grayscale investments, filing of an updated form 19b-4 with the SEC within the next 3 days continues to work for.
During the approval process, the SEC will be required to implement spot Bitcoin ETFs. each application will need to approve forms 19b-4 and these forms will likely appear first on the SEC’s website.
According to sources, it will most likely be the day after final approvals. Buying and selling transactions of ETFs will start. A similar topic on the subject in the statement Bloomberg ETF analyst Eric Balchunasemphasized that the final stage has been reached but no official approval has been announced yet:
The SEC is making final comments as we speak, then issuers will file final 19b-4s and S-1s shortly. So this is definitely as close to “finished” as we are, but as far as I know there is no official confirmation.