EddieJayonCrypto

 26 Dec 23

tl;dr

Applicants for a spot Bitcoin exchange-traded fund (ETF) are facing a critical deadline set by the United States Securities and Exchange Commission (SEC). The SEC has mandated that final S-1 amendments for spot Bitcoin ETFs must be filed by December 29. This deadline is crucial for applicants aiming...

Applicants for a spot Bitcoin exchange-traded fund (ETF) are facing a critical deadline set by the United States Securities and Exchange Commission (SEC). The SEC has mandated that final S-1 amendments for spot Bitcoin ETFs must be filed by December 29. This deadline is crucial for applicants aiming to be part of the initial approvals. High-profile meetings with SEC officials and representatives from firms aspiring to launch spot Bitcoin ETFs have taken place, with the expectation that only issuers meeting the December 29 deadline will be considered for the first wave of potential spot Bitcoin ETF approvals in early January. The SEC has also indicated specific requirements and challenges for the ETF filings, including a rejection of in-kind creation filings and the requirement for authorized participants. Despite the rush for last-minute updates, Bloomberg analysts remain confident that the SEC will approve the first spot Bitcoin ETFs by January 10, potentially paving the way for greater mainstream adoption and investment in Bitcoin.

According to a Reuters report, citing public memos and sources familiar with the matter, the SEC has mandated that final S-1 amendments for spot Bitcoin ETFs must be filed by December 29. The SEC’s deadline for final amendments to S-1 filings is rapidly approaching, with a cut-off date set for December 29. This deadline is crucial for applicants aiming to be part of the initial approvals. On December 21, SEC officials convened with representatives from at least seven firms aspiring to launch spot Bitcoin ETFs in early 2024. Notable attendees included representatives from BlackRock, Grayscale Investments, ARK Invest, and 21 Shares. The meetings also involved representatives from potential listing exchanges like Nasdaq and the Chicago Board Options Exchange, alongside lawyers and issuers. The SEC has reportedly informed attendees that only issuers meeting the December 29 deadline will be considered for the first wave of potential spot Bitcoin ETF approvals, which is expected in early January. Eleanor Terrett, a journalist with Fox Business, confirmed the final amendment date and noted that the SEC would prioritize applications completed and filed by this Friday.

```

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24