SEC’s spot Bitcoin ETF Rumors that it will delay approvals Bitcoin And in altcoins caused a sharp decline.
After this fall BTC As it continues to move around $43,000, some sources said companies applying for the ETF have addressed three of the SEC’s remaining concerns regarding spot bitcoin ETFs.
According to The Block, three sources with knowledge of the issue said that the companies applying for the spot bitcoin ETF have been working on a series of problems with the SEC over the last few weeks, and three of these problems have been resolved.
According to these sources, the issues resolved include which models to use in a spot Bitcoin ETF, such as cash or in-kind, naming authorized participants, and how to manage hard forks and airdrops.
One of the sources said that the SEC has notified companies applying for ETFs. “If you want to be in the first wave of approval, you need to have cash.” he said.
In the cash model, issuing companies must transfer stored Bitcoin and sell it immediately to provide cash. At this point sources BlackRock and said some companies tend to adopt a cash model for the spot bitcoin ETFs they offer, with Grayscale being the latest company to adopt a cash model.
One of the sources is GrayscaleHe added that he had pushed for the same method but accepted the SEC’s requests for approval.
Sources also air drop He stated that the problems related to hard forks have been resolved and that Grayscale changed the 3-S form submitted and stated that if the spot Bitcoin ETF is approved, it will not receive any tokens via hard fork or airdrop.
Sources are finally on the spot. Bitcoin They declined to comment on the timing of when their ETF would receive approval from the SEC or whether it would be approved at all.
*This is not investment advice.
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