The SEC recently met with representatives of seven firms aiming to introduce spot Bitcoin ETFs. ETFs.Executives announced in meetings that the SEC has set a December 29 deadline for final updates. Players who fail to meet this deadline will not be included in the possible confirmation wave. Meanwhile, experts predict that the SEC will begin granting approvals in early January.
SEC gave ETF players until December 29!
cryptokoin.comAs you follow from , U.S. Securities and Exchange Commission (SEC) officials met Thursday with representatives of at least seven companies aiming to promote spot Bitcoin exchange-traded funds (ETFs). Participants in these meetings included representatives of BlackRock, Grayscale Investments, ARK Investments and 21 Shares. Public memos and sources familiar with the talks mention a deadline for final changes. Sources say the SEC has recommended companies file changes by the end of next week.
Executives from two companies attending regulatory meetings made some statements anonymously. The SEC has set a Dec. 29 deadline for final updates to the filings, executives said. Additionally, SEC officials noted that any issuer that fails to meet this deadline will not receive approval. Therefore, these players will not receive the possible spot Bitcoin ETF approval in early January.
When will the SEC decide on spot Bitcoin ETF applications?
There are many BTC ETH applications currently under SEC review. According to experts, the joint offer of ARK Investments and 21 Shares is planned to be decided by January 10. Market observers predict that the SEC will approve multiple applications simultaneously by this date. According to the meeting notes, legal representatives of the issuers, as well as representatives from stock exchanges such as Nasdaq and Cboe where new products can be traded, were also present at the meetings.
It is worth noting that the SEC has consistently rejected various applications to promote spot Bitcoin ETF products. The regulator has frequently expressed concerns about the crypto market’s susceptibility to manipulation. The SEC has so far only approved Bitcoin and Ethereum ETFs tied to futures contracts traded on the Chicago Mercantile Exchange. However, in recent months, there have been strong expectations that the SEC may be inclined to approve at least some of the 13 proposed spot Bitcoin ETF products. Some attribute the shift to a landmark federal appeals court decision in August. The court found it unfair for the SEC to reject Grayscale’s proposal to convert its trust into an ETF.
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