The United States Securities and Exchange Commission (SEC) has set a deadline of December 29, 2023, for final changes to be made to spot Bitcoin exchange-traded fund (ETF) filings. Several firms, including Grayscale, BlackRock, and Ark Invest, have applied for a spot in a Bitcoin ETF and are hopeful for approval in 2024. The SEC is expected to make a decision on January 10, 2024, regarding the approval or denial of the applications.
In recent meetings with the applicants, the SEC emphasized the importance of cash creation and redemption models for the spot Bitcoin ETF. BlackRock and Ark Invest/21 Shares have already made changes to reflect these models. Any final changes to the filings may pertain to items such as fees and seeds.
While there are indications that the SEC may approve a spot Bitcoin ETF in January, the commission still has the authority to reject the proposals. The SEC has previously delayed its decision, causing uncertainty in the market. If the first spot Bitcoin ETF is approved, it could potentially lead to a significant increase in the price of Bitcoin.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | None, BlackRock, Ark Invest, 21 Shares, Grayscale |
| Companies | BlackRock, Ark Invest, 21 Shares, United States Securities and Exchange Commission, Grayscale |
| Currencies | Bitcoin |
| Securities | None |
