SEC Proceeding With the Approval of Eleven Spot Bitcoin ETFs
The US Securities and Exchange Commission (SEC) is proceeding with the approval of eleven Spot Bitcoin Exchange-Traded Funds (ETFs). Proposals to list and trade all eleven Spot Bitcoin ETFs on stock exchanges have been filed with the SEC. “It’s done,” an ETF analyst said, adding that the securities regulator is “trying to line up everyone for the January 11 launch.”
Proposals to List and Trade Filed with the SEC
The proposals to list and trade the eleven Spot Bitcoin Exchange-Traded Funds (ETFs) were filed with the US Securities and Exchange Commission (SEC) on Friday amid wide speculation regarding the imminent approval of Spot Bitcoin ETFs by the securities regulator.
“The SEC staff had no additional feedback on the paperwork for several of the firms after the latest amendments,” Bloomberg reported, citing two people familiar with the matter. Form 19b-4 is largely used for rule changes to allow Spot Bitcoin ETFs to trade on stock exchanges.
James Seyffart, an analyst at Bloomberg shared a list on Friday afternoon in X that the amended 19b-4 forms have been submitted to the SEC for all eleven Spot Bitcoin ETF applicants. “All eleven of these bitcoin ETF filers are still in the Cointucky Derby,” he wrote.
The analyst also cautioned: “We’re not over the finish line yet. But we are damn close. We need to see approvals on these amended filings, hopefully next week. And then we need the S-1 documents to be effective, which could also happen next week. Then it’s a done deal.”
Senior Bloomberg ETF analyst Eric Balchunas explained the development on X:
"It’s done! The latest update is that the final S-1s are due at 8 am on Monday as the SEC is trying to line everyone up for the January 11 launch."
“That said, I still want to hear it from the SEC to call it official,” he said. S-1s are prospectus documents for Spot Bitcoin ETFs.
SEC Commissioners to Vote on Exchange-Rule Filings Next Week
The SEC commissioners are likely to vote on the exchange-rule filings next week, Bloomberg reported, citing people familiar with the process. The publication explained that once the SEC approves the 19b-4 filings and issuers sign off on their final S-1 filings, Spot Bitcoin ETFs could begin trading the next business day.
What is your take on the SEC approving all eleven Spot Bitcoin ETFs next week? Please share your thoughts and opinions in the comments section below.
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