According to Reuters news Industry executives said that negotiations between the US Securities and Exchange Commission (SEC) and companies applying for spot ETFs are progressing.
Accordingly, industry executives stated that the negotiations between the companies applying for spot ETFs and the SEC are progressing towards technical details about ETFs.
At this point, informants say that this progress in the talks is a spot event that has been expected to be confirmed for a long time. Bitcoin He emphasized that it was a sign that his ETFs could be approved soon.
As it is known, there are thirteen spot Bitcoin ETF applications pending before the SEC. Among these Grayscale Investments, BlackRock, Invesco and ARK Investmentsalso has spot ETF applications.
Companies applying for ETF BTCWhile arguing that it offers investors the best way to invest in Bitcoin, depending on its spot price, the SEC has been rejecting spot ETF applications for a long time, arguing that they do not meet the investor protection requirement.
Additionally, the SEC has until January 10 to make a final decision on ARK Invest’s first-tier spot ETF application. At this point, analysts said that the progress in the negotiations indicates that the SEC may approve ARK’s application and possibly 12 other applications in 2024.
At this point, Morningstar ETF analyst Bryan Armour “My guess is that several ETFs will be approved at the same time, giving investors the best opportunity for Bitcoin.” said.
However, while the developments indicate that the SEC will soon approve spot ETF applications, analysts remind that the final decision on this matter belongs to the SEC and warn investors against a small possibility of rejection.
*This is not investment advice.
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