The United States Securities and Exchange Commission (SEC) has set a deadline for spot Bitcoin exchange-traded fund (ETF) applicants to file final S-1 amendments by December 29. The SEC officials recently met with representatives from several firms, including BlackRock, Grayscale Investments, ARK Investments, and 21 Shares, who are hoping to launch spot Bitcoin ETFs in early 2024. The regulators made it clear that any issuer that fails to meet the deadline will not be part of the first wave of potential spot Bitcoin ETF approvals in early January.
Applicants have been rushing to update their S-1 filings with the cash redemption model, replacing in-kind redemptions. The SEC also wants Bitcoin ETF filers to name the authorized participants (AP) in their filings, which is seen as the last hurdle before spot Bitcoin ETFs can be approved. As of now, none of the spot Bitcoin ETF filers have the AP agreement in place, although seven firms have switched to the cash redemption model.
Despite the last-minute updates, Bloomberg analysts are confident that the SEC will approve the first spot Bitcoin ETFs by January 10.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eleanor Terrett |
| Companies | Grayscale Investments, BlackRock, Nasdaq, Chicago Board Options Exchange, 21 Shares, ARK Investments |
| Currencies | Bitcoin |
| Securities | None |
